July comps rise 2.7% at U.S. Papa John's Pizza units

Aug. 2, 2005

LOUISVILLE, Ky. — Papa John's reported its domestic system-wide comparable-store sales for the four weeks ended July 24, 2005, rose 2.7 percent. According to a regulatory filing, the increase resulted from a combined 8 percent increase at company-owned stores and a 1 percent increase at franchised stores.

Total system-wide international comps for the period increased 15.1 percent on a constant dollar basis.

As previously reported, the company's comps increased 6.1 percent for the 12 weeks ended June 26. Net income for the period was $10.9 million, compared to last year's net loss of $2.6 million. Revenues were $242.1 million, 5.3 percent better than the $230 million reported in the comparable period last year.

Papa John's had 30 net-unit openings in the period.

For the first six months of the year, the chain posted a better-than-three-fold profit increase of $20.8 million on revenues of $494.5 million (an increase of 5.9 percent). The chain's net-unit openings during the period were 42.

The year-to-date stronger numbers led Papa John's to increase its full-year '05 earnings-per-share estimate by 7 cents to a range of $2.42 to $2.48.

As of June 26, the company operated 2,875 Papa John's units (571 company-owned and 2,304 franchised), and 114 Perfect Pizza units in the United Kingdom.

Topics: Papa John's , Public Companies

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