Papa John’s International, Inc. (PZZA) Remain Reporting Accelerated Growth in September – Stocks Register

Papa John’s International, Inc. (PZZA) Remain Reporting Accelerated Growth in September

Systemwide comparable sales of Papa John’s International, Inc. (PZZA) in North America increased by 18.4% in September. This marks the pizza chain operator’s double-digit sales growth for 6 consecutive months.

Comparable sales of company’s own business in domestic market jumped 14.3% in September. Company’s system-wide comparable sales in North America surged at a rate of 23.8% during the three months ended September 27, 2020. International restaurants system-wide comparable sales grew by 20.6 in the third quarter while that remain surging 23.3% in September alone.

In the face of uncertainty created by the pandemic, Papa John’s remain providing business updates on monthly basis, the company said.

Number of Papa John’s international franchised stores is 2,100 out of which nearly 90 are closed. The company said that those closed stores are primarily in Europe and Latin America while almost all of its traditional restaurants in North America are now open and fully operational.

Papa John’s also said that number of its non-traditional stores in stadiums and universities are temporarily closed. But company’s revenues or operating income have not been hurt because of those closure as business from those non-traditional stores have no significant material impact on company’s performance.

Company’s strong operations, innovation pipeline, and marketing and technology platforms gave us the confident by providing support to report stronger results during and after the pandemic, said Rob Lynch , Papa John’s President and Chief Executive Officer.

As coronavirus pandemic caused homebound consumers shifted to ordering and delivery online, that raised the need of additional staff to cater increasing number of home delivery orders. The situation caused the food retailer to add jobs during the pandemic, and Papa John’s also stood among such retailers.

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The company mid last month announced opening of a new headquarters in the Metro Atlanta area moving some of its functions out from its current headquarters at Louisville, Ky.

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