Business
Papa Johns Announces Back to Better 2.0 Ahead of 26th Annual ICR Conference, and Provides Preliminary 2023 Sales and Unit Development
Long-term strategic initiatives focused on driving comparable sales growth and higher average unit volumes (AUVs) through increased investments in North
About this update from Papa John's International, Inc.
[{"type":"text","content":"\n\nLong-term strategic initiatives focused on driving comparable sales growth and higher average unit volumes (AUVs) through increased investments in North America marketing; improving North America restaurant-level margins; increasing North America net new unit development; and, strengthening international operational effectiveness\n\n\n\nPreliminary global system-wide sales increase approximately 5%(1) for fiscal year 2023 on 210 net new units, including 57 in North America, and a preliminary 1% increase in North America comparable sales\n\n\n\nPapa Johns’ CEO, CFO and VP of Investor Relations plan to discuss these items during an analyst-led fireside chat at the 26th Annual ICR Conference tomorrow, January 9, 2024 at 8:00 am ET\n\n\n\n LOUISVILLE, Ky.--(BUSINESS WIRE)--\nPapa John’s International, Inc. (NASDAQ: PZZA) (“Papa Johns®”) today provided updates on long-term strategic initiatives designed to drive North America development, accelerate comparable sales growth and restaurant-level profitability in North America, as well as International profitability and long-term development. The Company also reported preliminary sales and unit development information for the fourth quarter and the full year ended December 31, 2023.\n\n\n“It is our ambition to continue our positive momentum and to become the QSR pizza brand of choice for customers and franchisees around the world,” said Rob Lynch, Papa Johns president and CEO. “We are excited about Papa Johns’ future as the initiatives that we are undertaking, combined with our premium positioning in the marketplace, supportive franchisee base, and proven leadership team, will enable us to achieve our vision and deliver meaningful long-term value creation for all stakeholders.”\n\n\nNorth America Strategic Growth Initiatives\n\n\nCommenting on Papa Johns’ North America operations, Lynch said, “In 2023, our corporate and franchise teams delivered their fourth consecutive year of positive North America comparable sales, sustaining the sales growth that we experienced throughout the pandemic. At the same time, we have made foundational improvements in our restaurant operations, digital solutions and marketing platforms as part of our efforts to evolve our business model for the next chapter of growth. As we look to the future, we are optimizing our investments in data science and our m...