News
Papa John's considers ways to aid franchisees
November 4, 2008
LOUISVILLE, Ky. -- Domestic system-wide comparable store sales at Papa John's International Inc. restaurants increased 1.7 percent for the third quarter ended Sept. 28, the company announced. Year-to-date comps were up 1.9 percent.
Revenues for the quarter were $280 million, up 7 percent compared with revenues of $262.8 million for the same period in 2007. Year-to-date revenues were $852.4 million, up 9 percent compared with revenues of $779.7 million for the same period in 2007.
Net income for the quarter was $7.7 million, up 60 percent compared with net income of $4.8 million. For the year to date, net income was $24 million, off 4 percent compared with net income of $25 million for the first nine months of 2007.
Papa John's is considering ways to help franchisees deal with the current economic turmoil, the company said in its earnings release. The company has already cut the price of cheese it sells to its restaurants and is considering offering help with financing.
The cut in cheese prices is expected to reduce food costs in its restaurants by 1.4 percent.
Related Media
Subscribe
Get the latest news and resources from Pizza Marketplace.
