Papa John’s global restaurant sales up 2% in Q2
During the period, the pizza chain also opened a total of 47 stores internationally and is on track to achieve 270 to 310 net new units by the end of 2023
Papa John’s revealed that its global system-wide restaurant sales reached $1.22bn (£0.96bn) in the second quarter ended 25 June, showing a 2% increase from the prior year’s Q2.
During the period, the pizza chain also opened a total of 47 stores internationally and is on track to achieve 270 to 310 net new units by the end of 2023.
However, while global sales have increased, its comparable sales in North America were down 1% compared to the same period last year, as the strength of the group’s domestic company-owned restaurants were offset by lower franchised restaurant sales.
International comparable sales were also down 1% from a year ago, but levels improved 5% from the first quarter.
In addition, total revenues of $515m (£404.8m) were down 2% from Q2 a year ago, driven by lower revenues in the group’s North American commissary segment due to commodity price declines.
Rob Lynch, president and CEO of Papa Johns, said: “We are pleased with the solid execution that our teams have demonstrated in what continues to be a challenging operating environment.
“However, this solid performance was not enough to offset the lower-than-anticipated comps our franchisees experienced during the quarter.”
He added: “Our international business is a long-term growth driver for Papa Johns. We’ve recently established a corporate-owned restaurant portfolio in the UK, our largest international market, allowing us to build a similar success model to the one we’ve created in the US.”