Papa John's Oct. sales down, Shapiro Capital reduces stake
March 25, 2002
WASHINGTON -- Papa John's International Inc. (PZZA) announced that domestic systemwide comparable sales declined 3.9 percent for the four weeks ended Oct. 28, compared with the previous year.
The change was composed of a 2.3 percent decrease at franchised restaurants and an 8.1 percent decrease at company-owned restaurants.
On Nov. 11, Shapiro Capital Management Co.'s reduced its passive stake in Papa John's Class B common from 10.22 percent reported in April, to 8.43 percent.
According to Dow Jones Newswires, a filing late Nov. 9 with the Securities and Exchange Commission showed Shapiro Capital owned 2,039,699 Papa John's Class B shares at the time of the filing. Shapiro's Schedule 13G denotes a passive investment stake in a company; and such filers aren't required to provide reasons for changes in stake or detail regarding any transactions.
Papa John's is headquartered in Louisville, Ky., and is the world's third-largest pizza chain, is an operator of 2,707 restaurants -- 629 company-owned and 2,078 franchised.