Papa John's announced its Q1 sales this week, including systemwide comp sales increases of 9.6 percent for North America, and 6.4 percent for its international system.
In a news release, CEO John Schnatter said digital initiatives continued to drive positive sales for the company, with a sales mix approaching 50 percent of total sales and nearly 60 percent of all delivery sales.
"I'd like to congratulate our operators on delivering another excellent quarter, especially considering the commodity headwinds we've seen thus far in 2014," Schnatter said. "I'm extremely confident that we will continue to drive the business forward globally by building on the quality advantages we have established over the past 30 years. We will also continue to capitalize on digital expertise, with our industry-leading digital sales mix."
First quarter 2014 revenues were $401.4 million, a 12.9 percent increase from first quarter 2013 revenues of $355.6 million. Net income was $19.3 million for both the first quarter of 2014 and 2013. First quarter 2014 diluted earnings per share were $0.45 compared to first quarter 2013 diluted earnings per share of $0.42.