Q2 comp sales up 0.2% at Papa John's

July 9, 2002

LOUISVILLE, Ky. -- Papa John's International, Inc. (NASDAQ: PZZA) today announced domestic systemwide comparable sales for the five weeks ended June 30, decreased 2.3 percent (composed of a 0.8 percent decrease at company-owned restaurants and a 2.8 percent decrease at franchised restaurants).

Domestic systemwide comparable sales for the quarter increased 0.2 percent (composed of a 2.3 percent increase at company-owned restaurants and a 0.5 percent decrease at franchised restaurants).

Comparable sales for June and the second quarter were favorably impacted by the timing of the national media-supported summer promotion, which ran in June as compared to July 2001.

Accordingly, Papa John's expects to experience more difficult comparable sales comparisons for July and the third quarter, and it estimates the timing of the Easter holiday had a 0.5 percent to 1 percent positive impact on second quarter comparable sales results.

Total systemwide international sales increased 8.5 percent for the five-week period and 5.7 percent for the 13-week period, on a constant U.S. dollar basis, over the comparable periods last year.

The company also announced that it expects Q2 earnings per share to be at or above the upper end of the previously announced range of $0.56 to $0.58, due primarily to favorable commodity costs and the impact of share repurchases.

As of June 30, there were 2,764 Papa John's restaurants (596 company-owned and 2,168 franchised) operating in 49 states and nine international markets. Papa John's also owns or franchises 170 Perfect Pizza restaurants (two company-owned and 168 franchised) in the United Kingdom.

Topics: Public Companies

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