Nov. 1, 2005
LOUISVILLE, Ky. — Papa John's launch of its Perfect Pan Pizza helped push domestic comparable-store sales up 5.9 percent in October.
According to a news release, the No. 3 chain's comps rose 3.9 percent for the 12 weeks ended Sept. 25. Revenue for the period was $236.3 million versus $227.8 million posted in the same period in 2004. Net income for the third quarter was $10.8 million versus $7.9 million recorded in the same period last year.
"We are very pleased with our third-quarter results," said Papa John's president and chief executive Nigel Travis. "We are also very pleased with the early results of the performance of our new Papa's Perfect Pan Pizza during the initial product launch in October."
Travis said the company and its operators spent more than $1 million providing some 100,000 meals to evacuees and relief workers involved in Gulf Coast relief efforts. "A Franchise Team Member Relief Fund was also established to aid employees impacted by these storms and future calamities," he added.
For the first nine months of the year, ended Sept. 25, revenues were $730.8 million, up 5.2 percent over the same period in 2004. Net income was $31.6 million versus $13.8 million posted in the comparable period. The company credited comps increases at both corporate and franchise stores for the income gains.