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Papa John's issues 2008 guidance
December 6, 2007
LOUISVILLE, Ky. — Papa John's International Inc. plans to add between 160 and 190 units in 2008, the company announced, with approximately one-third of those being domestic units and approximately two-thirds international units.
More than 80 percent of the domestic net unit growth is expected to be franchised restaurants, while almost all of the international net unit growth is expected to be franchise units, except for a small number of company-owned unit openings in the United Kingdom and Beijing.
Domestic systemwide comparable sales are expected to increase 1.25 percent to 2.75 percent for 2008. Total sales growth for international restaurants is expected to range from 30 percent to 35 percent.
Papa John's board of directors approved a $50 million increase in the amount of the company's common stock that may be repurchased from time to time, effective beginning Jan. 1, 2008, through Dec. 28, 2008. The company intends to fund the increase in the share repurchase program from operating cash flows.
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