A Papa John's restaurant manager says he was fired after 13 years with the company for closing 3 hours early amid ongoing hiring and retention challenges
With no-one else to cover the evening shift, Chris Jackson says he had to close the restaurant at 5pm Tuesday. On Wednesday, he was fired.news.yahoo.com
Papa John's earnings miss, weighed down by higher costs, but chain sees strong pizza demand
Papa John's quarterly earnings missed estimates as higher food costs, a new corporate office and employee bonuses weighed on profits, even as demand for its pizza remains high. Excluding reorganization costs, Papa John's earned 40 cents per share, missing the 46 cents per share expected by analysts surveyed by Refinitiv. Papa John's also raked in higher royalties from its franchisees because its operator assistance program, which began in the wake of the scandal that involved founder John Schnatter. Papa John's expects to spend $15 million to $20 million through 2021 related to the costs of adding the office, including employee severance, recruitment and relocation. Papa John's declined to provide an outlook for its financial targets during 2021, citing the uncertainty caused by the pandemic.cnbc.com
Papa John's sales soared 33.5% in May a record for 'second straight month,' CEO says
"In May, for the second straight month, Papa John's team members and franchisees delivered the best sales period in the company's history," CEO Rob Lynch said in a press release. Shares of Papa John's gained about 7% in Wednesday's premarket, one day after closing 4.5% lower to over $74 each. Papa John's, based on Tuesday's close, was up almost 17.5% year-to-date compared to the S&P 500's decline of 7.4% in 2020. In April, preliminary estimated same-store sales jumped 26.9% in North America and 1.4% internationally. At Domino's Pizza, U.S. same-store sales grew 14% during the first two months of its second quarter.cnbc.com
Stocks making the biggest moves in the premarket: GM, CVS, Shopify, Papa John's, Wendy's & more
Wendy's (WEN) Wendy's reported quarterly earnings of 9 cents per share, a penny a share below estimates. Waste Management (WM) Waste Management beat estimates by 3 cents a share, with quarterly earnings of 93 cents per share. Revenue beat forecasts. The plant-based burger maker also saw revenue beat estimates, with sales to supermarkets helping offset weaker restaurant sales. Planet Fitness (PLNT) Planet Fitness missed estimates by 18 cents a share, with quarterly earnings of 16 cents per share.cnbc.com
Papa John's CEO says April was the best month in company's history
April was the best month in Papa John's history, CEO Rob Lynch told CNBC's Kate Rogers on Wednesday. However, Lynch said the Covid-19 outbreak isn't the singular factor behind the sales growth. Lynch pointed to Papa John's menu innovation and partnerships with third-party delivery services, as well as momentum around its rewards program. Lynch's comments came after shares of Papa John's hit a 52-week high of $78.06 on Wednesday. Papa John's stock is up 21.66% so far in 2020, while the S&P 500 is down 11.65%.cnbc.com
Stocks making the biggest moves midday: Travelers, Kellogg, Chipotle & more
Shares of Chipotle gained 6%, Domino's Pizza rose more than 1.5% and Papa John's rallied more than 5%. Kellogg, Kroger, Clorox Consumer staples stocks took a hit on Friday, losing some of their strong relative performance in recent weeks. Shares of all three stocks fell by more than 6% in midday trading. Travelers Shares of the insurance company surged by 6.5% on Friday, making it the biggest winner in the Dow Jones Industrial Average. United Airlines, American Airlines, Delta Air Lines, Southwest Airlines Shares of airlines rose as stakeholders grew more optimistic that the U.S. federal government will provide a financial bailout to the industry.cnbc.com
Papa John's future was bleak in 2018here's how the company is coming back from the brink
With a new CEO, refreshed products and a growth strategy in place, Papa John's expects its sales to rebound this year. On Wednesday, the company said same-store sales in the U.S. and Canada are expected to rise between 2.5% and 5% in 2020. Although Schnatter stepped down, same-store sales turned negative, and customer loyalty at Papa John's slipped, according to the Brand Keys Customer Loyalty Engagement Index. In August 2019, experienced restaurant executive Rob Lynch took over as CEO of Papa John's. How is Papa John's repairing its image with consumers?cnbc.com
Papa John's shares close down nearly 9% after company shuts 50 restaurants in China due to coronavirus
And while the company reported its second straight quarter of same-store sales growth in North America with an increase of 3.5%, full-year same-store sales growth in the region still fell 2.2%. Papa John's said it is gathering real-time information from its team on the ground and is monitoring the spread of the virus closely. For the full year 2020, Papa John's is currently guiding for international same-store sales growth of between 1.5% to 4%, and the company reported international same-store sales growth this past quarter of 2.4%. Coronavirus is the latest challenge for Lynch, who came on as Papa John's CEO last summer. Papa John's founder John Schnatter resigned in 2018 as chairman of the board after admitting and apologizing for using the N-word during a conference call.cnbc.com
Papa John's CEO says pizza recipe hasn't changed despite founder's claims
Papa John's CEO Rob Lynch said Tuesday that the pizza chain has not changed its recipe, despite claims from its founder that it tastes different. Last week, founder John Schnatter said that he thinks the chain's pizza tastes different. In the WDRB interview, he accused the company's former CEO Steve Ritchie and other board members of stealing the company he founded. While Papa John's says that it has not changed its recipe, it has been making some tweaks to its menu. Papa John's stock, valued at $1.9 billion, has risen 51% so far this year.cnbc.com
Papa John's turnaround efforts are finally working
Joe Raedle/Getty Images(CNN) - For the first time in two years, Papa John's is growing in the United States. Three executives, Chief Operating and Growth Officer Mike Nettles, Chief Marketing Officer Karlin Linhardt and Chief Financial Officer Joe Smith, are all departing the company. To distance itself from the controversial founder, Papa John's has updated its marketing campaign, conducted an internal audit into the company's culture and ran mandatory anti-bias training for employees. As Papa John's slowly returns to growth in the United States, competition in the pizza sector is heating up. Its new partnership with the NFL, which replaced Papa John's, helped boost its bottom line.
Papa John's to add new crust for first time in nearly 4 decades
CNN image(CNN) - Papa John's is slowly turning things around and perhaps a new crust will help. Papa John's crust selection lacks variety compared to its competitors. The new Papa John's crust is available Monday across the United States. Slice strugglesSales at Papa John's have struggled the past few years following the scandal surrounding founder and former CEO John Schnatter. In February, activist investing firm Starboard Value took a $200 million stake in Papa John's and pledged to turn things around.
Papa John's has Jack-o-Lantern pizzas for Halloween and they're so cute
Your Halloween just got a whole lot cheesier. One of our favorite pizza chains, Papa John's, is really getting into the Halloween spirit this year. Instead of serving up a boring circle-shaped pizza, they are selling pizzas that are shaped like a sure sign of Halloween: a Jack-o-Lantern. This pizza is a large thin-crust that is shaped like a jolly old pumpkin, complete with a pepperoni smiley face that is more cute than spooky. The giant pie is going for $11 and is only available until Halloween.
Domino's is losing the pizza wars on Wall Street
Scott Olson/Getty ImagesANN ARBOR, Mich. - It wasn't that long ago that Domino's was the darling of the pizza industry. Papa John's has started to use the popular ex-NBA star Shaquiile O'Neal, who now serves on the company's board, as the face of its new ad campaign. But Pizza Hut has partnered with GrubHub while Papa John's has a deal with DoorDash. The competition is hurting Domino's stock -- and lifting its rivals. is up nearly 25% and Papa John's has soared more than 35%.
Papa John's CEO says, unlike Domino's, they're embracing delivery apps like DoorDash
"We look at it as an opportunity," said Rob Lynch, when asked about the threat of food delivery apps such as GrubHub, Uber Eats and DoorDash. Papa John's in March partnered with third-party delivery service DoorDash, and Lynch added that he continues to meet with third party aggregation companies. It's a different tune from pizza rival Domino's Pizza, whose CEO Ritch Allison said on CNBC last week that the company has no plans to partner with third-party delivery apps. "We've had a very strong and profitable delivery business for many years now," said Allison at CNBC's Evolve Conference in Chicago. CNBC's Jim Cramer also referenced the pivot of Papa John's toward apps and the Domino's reluctance.cnbc.com
Pizza Hut is making a comeback
Tim Boyle/Getty Images(CNN) - Pizza Hut had struggled to compete against Domino's and Papa John's for the past few years. Pizza Hut also is launching an interactive game called "Hut Hut Win" that will give customers a chance to win NFL merchandise and free food. Pizza Hut is also stepping up its digital game with leading apps on Apple's iOS App Store and Google Play for Android. But even without any plant-based products on the horizon just yet, Pizza Hut is still enjoying a solid comeback. "The second quarter, globally, was one of the best for Pizza Hut in a long time.
Papa John's names head of Arby's as CEO
Lynch was named CEO of Papa John's Tuesday morning. He replaces Steve Ritchie, the veteran Papa John's executive who took over in the wake of the scandal surrounding founder and former CEO John Schnatter. Starboard CEO Jeffrey Smith took over as Papa John's chairman. "I am thrilled to welcome Rob to Papa John's at this pivotal moment in the company's history," Smith said in a statement. Shares of Papa John's, which rallied on the news of Lynch's hiring, are up more than 10% this year.
Papa John's CEO goes to funeral of murdered worker
Papa John's CEO goes to funeral of murdered worker Papa John's CEO John Schnatter traveled to Tennessee to attend the funeral of Gordon Schaffer, an employee killed during an armed robbery on the job. The pizza chain also payed for the funeral and medical bills. Jeff Glor reports.cbsnews.com