Papa John’s Pizza is throwing flags all over the place concerning their poor 4th quarter performance and the main culprit is the NFL.
Look you guys said it yourselves, when your competition is tossing pies for $3 bucks less, people are gonna buy the cheaper pie. But then again this is also the company that once raised prices a few dimes because of gas prices and then another quarter because of Obamacare yet still placed 3/4 of store employees on part time status while franchise licensing rose. – PB/TK
Papa John’s blames poor restaurant sales on bad NFL ratings – FoxNews.com
Papa John’s, the official pizza sponsor of the NFL, didn’t exactly score a touchdown when it came to 2016 pizza sales.
Following weak same-store sales in the fourth quarter of last year, the popular chain saw its stock drop 8 percent on Feb 22.
Same-store sales are utilized to figure out the amount of sales growth that can be credited to new store openings. That’s based on sales made by stores open longer than 12 months.
But the chain isn’t attributing its worse-than-predicted performance to less-than-stellar pies. According to Chief Operating Officer and Papa John’s International Inc. president Steve Ritchie, National Football League ratings over the last season played a major role in weakening sales.
“We’ve seen ratings down 8 percent for the season,” Ritchie said during an earnings call Wednesday. “We’ve made a significant investment in the NFL. An 8-percent decline in ratings played a small factor in some of our performance
Continue to foxnews.com article: http://www.foxnews.com/food-drink/2017/02/24/papa-johns-blames-poor-restaurant-sales-on-bad-nfl-ratings.html
