News

Nov. comps rocket 8.7% at Papa John's Pizza

November 29, 2005

LOUISVILLE, Ky. — Last November Papa John's cut 13 percent of its corporate staff and reported comparable-store sales for the month fell 0.2 percent. Performance at company-owned units lagged franchise stores, its stock traded near $34 and a general pall hung over the No. 3 chain.

What a difference a year makes.

Papa John's stock is closing in on $55 a share and the company's streak of positive-comp periods continued through the four weeks ended Nov. 20, 2005. During the period, domestic system-wide comps increased 8.7 percent (composed of a 12 percent increase at company-owned units and a 7.8 percent increase at franchise units) despite the temporary closure of some units impacted by hurricanes. The company estimated the storms lowered the period's comps by 1 percent, but said in a news release that "substantially all such temporarily closed units are now reopened."

International comps for the period are steaming along as well, up 14.4 percent on a constant U.S. dollar basis.

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