Operations

Everything's coming up pizza for Papa John's

Photo by istock.com

February 26, 2021

Consumers in lockdown due to COVID-19 are staying busy ordering pizza at Papa John's given the brand's fourth quarter and full year financial results.

Papa John's International Inc. saw total revenues spike 12.5%, to hit $469.8 million in Q4 of 2020 compared to the fourth quarter of 2019, and comparable sales increased 13.5% in North America and 21.4% internationally in the same time comparison, according to a press release.

During Q4 the brand opened 40 units, mostly driven by international growth, and paid end-of-year bonuses to frontline team members of $2.7 million.

Total revenues, for the full year ended Dec. 27, 2020, compared to 2019, were up 12%, hitting $1.8 million, and comparable sales jumped 17.6% in North America and 12.6% internationally.

"2020 was a transformational year for Papa John's as we turned our focus to the future. We were able to deliver industry-leading sales growth and significant profitability by coming together as a system to take care of our team members, customers and communities in one of the most challenging years in history," President and CEO Rob Lynch said in the release.

"Q4 2020 was the third consecutive quarter of double-digit comparable sales growth and the sixth straight quarter of positive comparable sales in North America. We ended the year with the launch of Epic Stuffed Crust, the biggest product innovation in the company's history, and our future is extremely bright."

As of Dec. 27, 2020, there were 5,400 Papa John's restaurants operating in 48 countries and territories, according to the release.

The brand's development pipeline, as of Dec. 27, 2020, included approximately 1,460 restaurants (210 units in North America and 1,250 units internationally), the majority of which are scheduled to open over the next six years.

Papa John's expects to complete a reorganization of corporate functions this year and open its Atlanta, Georgia office, announced last September, by summer.

Given the ongoing pandemic the brand did not provide outlook for 2021.