Papa John's April comps drop 5%

May 5, 2004

LOUISVILLE, Ky.—The struggle to boost comparable-store sales at Papa John's International, Inc. continues.

According to a news release, Papa John's domestic systemwide comparable sales for April decreased approximately 5 percent (composed of a 2.4 percent decrease at company-owned units and a 5.8 percent decrease at franchise units).

Total April international systemwide sales decreased 0.3 percent on a constant U.S. dollar basis.

Revenues for its first quarter, ended March 28, rose 2 percent to $236.9 million, compared to $232.3 million in 2003. Net income for the period dropped, however, to $8.5 million compared to last year's $11 million.

This year's period includes a net loss of $1 million tied to Papa John's cheese purchasing company, BIBP Commodities, Inc.

Total comparable unit numbers for both Papa John's stores and its Perfect Pizza stores (in the UK) were down slightly in the period. In Q1 '03, the company had 2,942 total units (2,800 Papa John's and 142 Perfect Pizza), compared to Q1 '04's 2,936 (2,809 Papa John's and 127 Perfect Pizza).

To read related Papa John's news, click here.




Topics: Papa John's , Public Companies

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