Q1 '06 comps up 4.2% at Papa John's Pizza

 
April 24, 2006

LOUISVILLE, Ky.—Papa John's continued its streak of positive comparable-store-sales through the first 12 weeks of 2006.

According to a news release, domestic system-wide comps for the period ended March 26 increased 4.2 percent (composed of a 6.1 percent increase at company-owned units and a 3.7 percent increase at franchised units). The timing of the Easter holiday weekend was estimated to have a 0.4 percent favorable impact on results. Total system-wide international sales for Papa John's-branded units increased 29.1 percent for the quarter, on a constant U.S. dollar basis, over the comparable period last year.

Revenue for the period was $242.3 million versus $248.6 million, a decrease of 2.5 percent. Net income increased 60 percent to $16 million versus $10 million in the comparable period. The company credited more than half that increase to a gain from the consolidation of the results of the franchisee-owned cheese purchasing company, BIBP Commodities, Inc.

Domestic system-wide comparable sales for the four weeks ended April 23 rose 3.8 percent (composed of a 4.4 percent increase at company-owned units and a 3.6 percent increase at franchised units). The timing of the Easter holiday weekend pulled comps down by 1 percent.

Total system-wide international sales for Papa John's branded units increased 24.2 percent for the period on a constant U.S. dollar basis.

In January Papa John's acquired three franchise units in the Philadelphia market, where it expects to open an additional 20 company-owned units over the next four to five years.


Topics: Franchising & Growth , Public Companies


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