US Market News
1月前
It’s Finally Here – Papa Johns Brings Garlic Flavored Sauce to Retail Stores This SummerMay 13, 2026 9:10 AM
Business Wire Inspired by Its iconic Special Garlic Dipping Sauce, Papa Johns is bringing the bold, buttery garlic flavor fans idolize to retail shelves for the first time For the first time, Papa Johns is bringing the flavors of its iconic Special Garlic Dipping Sauce to grocery stores nationwide with the debut of Papa Johns Garlic Flavored Sauce. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260513471044/en/Papa Johns Garlic Flavored Sauce Beloved, endlessly talked about, and the must-have part of every Papa Johns order, Papa Johns’ Special Garlic Dipping Sauce has achieved cult-favorite status among fans who have spent years asking for a way to enjoy that unmistakable garlicky, buttery flavor beyond the pizza box. Now, Papa Johns is finally answering the call with a bottled sauce designed to capture the crave-worthy flavor that has fueled Papa Johns fandom for decades. “Our Special Garlic Dipping Sauce is one of the most iconic flavors in our brand, and our fans have a deep connection to it,” said Mark Gabrovic, Vice President of Culinary for Papa Johns. “Our goal was to take that bold, buttery garlic flavor fans love and reimagine it for life beyond pizza night. Inspired by the flavors of our Special Garlic Dipping Sauce, this new Garlic Flavored Sauce delivers a rich, crave worthy garlic experience that’s best served warm and is ready to dip, drizzle, or cook with at home.” The bottled Garlic Flavored Sauce will begin hitting select U.S. grocery and retail stores nationwide this summer, including Walmart, Kroger, Albertson’s, Safeway, and H-E-B. Availability may vary by retailer. To help fans get started, Papa Johns is rolling out new recipes showcasing creative ways to use the Garlic Flavored Sauce, from elevated snack hacks to easy weeknight meals. More information, including recipes and product details are available at papajohns.com/garlicsauce. About Papa Johns Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the Company or to order pizza online, visit www.papajohns.com or download the Papa Johns mobile app for iOS or Android. View source version on businesswire.com: https://www.businesswire.com/news/home/20260513471044/en/ Media Contact:
Michelle Philippe
michelle_philippe@papajohns.com Original: It’s Finally Here – Papa Johns Brings Garlic Flavored Sauce to Retail Stores This Summer
US Market News
2月前
“Papa Johns Deli” Pops Up in Los Angeles to Celebrate the Launch of Papa Johns Oven-Toasted SandwichesApril 15, 2026 11:34 AM
Business Wire
The pizza brand brings its bold new sandwiches to an activation inspired by your favorite deli
To debut its new Oven-Toasted Sandwiches, Papa Johns is bringing a one-day “Papa Johns Deli” pop-up to Los Angeles, serving bold, indulgent sandwiches inspired by classic neighborhood delis.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260415660923/en/“Papa Johns Deli” Pops Up in Los Angeles to Celebrate the Launch of Papa Johns Oven Toasted Sandwiches
The experience puts the spotlight on the brand’s new Oven-Toasted Sandwiches – Philly Cheesesteak, Chicken Bacon Ranch, and Steak & Mushroom - plus a few unexpected surprises for fans who stop by. Guests can walk in, grab a sandwich, and taste the hype for themselves. No gimmicks. No over-explaining. Just indulgent sandwiches packed with bold flavor, served exactly the way they’re meant to be enjoyed.
“We love our fans, and that means continuing to raise the bar on how we bring Papa Johns flavor to life in ways that feel fresh, fun, and worth showing up for,” said Shivram Vaideeswaran, Senior Vice President of Brand Marketing at Papa Johns. “Our Oven-Toasted Sandwiches are about taking something familiar and making it feel new again, with the quality and care people expect from us. From our bid for a MICHELIN star and our star-worthy dining experience in New York, to our surprise Sourdough Pizza ‘Father of Jack’ restaurant takeover in London, we’ve been finding creative ways to bring Better Ingredients. Better Pizza. to life — and this is the next step in expanding that experience beyond the pizza box.”
Details on Papa Johns Deli:
WHEN: Friday, April 17 | 10:00 a.m. – 2:00 p.m. While supplies last.
WHERE: 1471 Tamarind Ave., Los Angeles, CA 90028
For more information on Papa Johns Oven-Toasted Sandwiches, visit papajohns.com or the Papa Johns app.
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the Company or to order pizza online, visit www.papajohns.com or download the Papa Johns mobile app for iOS or Android.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260415660923/en/
Media Contact:
Michelle Philippe
michelle_philippe@papajohns.com
Original: “Papa Johns Deli” Pops Up in Los Angeles to Celebrate the Launch of Papa Johns Oven-Toasted Sandwiches
US Market News
2月前
Papa Johns to Report First Quarter 2026 Results on May 7, 2026April 9, 2026 4:01 PM
Business Wire
Papa John's International, Inc. (Nasdaq: PZZA) (“Papa Johns©”) will release its first quarter 2026 financial results before the market opens on Thursday, May 7, 2026, with a conference call to follow at 8:00 a.m. ET.
Participants on the call will include Todd Penegor, President and Chief Executive Officer, Ravi Thanawala, Chief Financial Officer and President, North America, and Heather Hollander, SVP Strategy, Investor Relations, and Financial Planning and Analysis.
To listen to the webcast, participants should register online at https://ir.papajohns.com/news-events/ir-calendar. Participants are requested to register a day in advance or at least a minimum 15 minutes before the start of the call. A replay of the webcast will be available approximately two hours after the call and archived on the same web page.
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world’s third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit www.PapaJohns.com or download the Papa Johns mobile app for iOS or Android.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260409910135/en/
Papa Johns Investor Relations
investor_relations@papajohns.com
Original: Papa Johns to Report First Quarter 2026 Results on May 7, 2026
US Market News
3月前
Papa Johns Selects Deliverect to Modernize Delivery Operations Across U.S. RestaurantsMarch 18, 2026 9:18 AM
PR Newswire (US)
AI-powered platform unifies in-house and third-party fulfillment, powering enterprise-scale digital orderingNEW YORK, March 18, 2026 /PRNewswire/ -- Papa Johns today announced a strategic partnership with Deliverect to deploy its Smart Dispatch & Delivery Management platform across all Papa Johns restaurants in the U.S. by the end of 2027.
The partnership is part of Papa Johns multi-year initiative to modernize its fulfillment technology stack. The platform enables the brand to execute all orders, whether fulfilled by in-house delivery drivers or third-party service partners, through a single, intelligent system that connects every ordering channel, point-of-sale and delivery workflow into a unified operational delivery orchestration hub."As we continue to prioritize our technology evolution to deliver a better experience for our customers and our in-store team members, one key area of improvement is to optimize and simplify our delivery process. Partnering with Deliverect allows us to do exactly that."
— Kevin Vasconi, Chief Digital and Technology Officer, Papa JohnsBy consolidating delivery operations into a centralized platform, Papa Johns gains full visibility across the order-to-delivery lifecycle, ensuring reliable fulfillment, operational efficiency and a consistent guest experience at scale.Intelligent Delivery Management at Enterprise Scale
Deliverect supports Papa Johns delivery operations by intelligently routing orders from all first-party channels to the most appropriate delivery fleet. Depending on the restaurant setup and real-time conditions, orders may be dispatched automatically or manually to in-house drivers, third-party fleets, or a hybrid of both.Leveraging machine learning with robust business configurability, Deliverect's technology eliminates unnecessary manual handoffs, while their teams gain live visibility into driver assignments, estimated arrival times, and delivery performance metrics.As a core component of Papa Johns' delivery technology stack and integrated to digital, in-store, and driver systems, Deliverect helps improve operational agility and supports data-driven decision-making across the enterprise.Flexible Deployment, Centralized Control
Deliverect helps Papa Johns deliver a better experience for every customer, with faster and more accurate delivery times, along with improved visibility into delivery status between the customer, in-store team, and driver.Papa Johns team members will also leverage the Deliverect platform as a central hub for delivery control in restaurant, with an interface to view delivery order statuses, assign or batch deliveries, view live driver locations, and more."Deliverect is a global leader in delivery management, and we know how critical it is to protect the customer experience. We're thrilled to partner with Papa Johns, a brand that has built a remarkable legacy in the U.S. around quality, innovation, and delivering great experiences to customers."
— Noah Hayes, VP, DeliverectThe phased implementation is expected to be completed across all participating U.S. locations by the end of 2027.About Papa Johns
Papa John's International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga. and Louisville, Ky. and is the world's third-largest pizza delivery company with more than 6,000 restaurants in approximately 50 countries and territories. For more information, visit www.PapaJohns.com.About Deliverect
Deliverect is a global restaurant technology company that connects digital ordering channels directly to in-store operations, serving more than 75,000 restaurant locations worldwide. With an API-first platform and over 1,000 certified integrations, Deliverect streamlines digital ordering across carryout, delivery, catering, and in-store fulfillment. By leveraging AI-driven innovation, Deliverect empowers restaurants to anticipate demand, recover lost revenue, and grow smarter at scale. The company processes 30 million API calls daily, has powered 1+ billion orders to date, and is trusted by many of the world's largest and most innovative restaurant brands. To learn more, visit deliverect.com.Media ContactsPapa JohnsHarrison SheffieldHarrison_Sheffield@papajohns.comDeliverectOier Fano Dadebatoier.fano@deliverect.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/papa-johns-selects-deliverect-to-modernize-delivery-operations-across-us-restaurants-302715114.htmlSOURCE Deliverect
Original: Papa Johns Selects Deliverect to Modernize Delivery Operations Across U.S. Restaurants
iHub News
4月前
Papa John’s shares slip as revenue shortfall overshadows earnings beatFebruary 26, 2026 10:01 AM
IH Market News
Papa John’s International, Inc. (NASDAQ:PZZA) shares moved lower in premarket trading Thursday after the pizza chain reported fourth-quarter revenue that fell short of Wall Street expectations, despite delivering stronger-than-forecast earnings.The company posted adjusted diluted earnings per share of $0.34, topping analyst estimates of $0.32. Total revenue, however, declined 6% year over year to $498.2 million, missing consensus forecasts of $516.5 million.Shares slipped about 1.8% ahead of the opening bell following the release.The revenue miss was largely tied to a refranchising deal involving 85 company-operated restaurants, along with a 5% drop in comparable sales across North America. International markets provided some offset, with comparable sales rising 6% during the quarter.“We are encouraged by the progress we are making in our transformation as we further reinforce our brand health, sharpen our value proposition, build our innovation pipeline and enhance the customer experience,” said Todd Penegor, President and CEO.Fourth-quarter adjusted EBITDA totaled $51.1 million, down from $57.9 million a year earlier, reflecting increased marketing spending and higher incentive compensation costs for management.Global system-wide restaurant sales edged down 1% to $1.23 billion, as a 4% decline in North America sales outweighed an 8% increase internationally.Looking ahead, Papa John’s expects fiscal 2026 adjusted EBITDA between $200 million and $210 million, compared with $201.1 million recorded in fiscal 2025. The company forecasts North America comparable sales to fall between 2% and 4%, while international comparable sales are projected to grow 2% to 4%.Expansion remains a key focus, with 142 restaurants opened globally during the quarter — including 101 outside North America. For 2026, the company plans to open 40 to 50 new locations in North America and between 180 and 220 internationally.Papa John’s International stock price
Original: Papa John’s shares slip as revenue shortfall overshadows earnings beat
US Market News
4月前
Papa Johns Makes a Bold Run to Become the First Pizzeria Awarded a MICHELIN StarFebruary 11, 2026 10:14 AM
Business Wire
The brand gives pizza the spotlight it deserves and its latest Pan Pizza is built to prove it
No pizza establishment has ever earned a MICHELIN Star and Papa Johns is leading the charge to become the first. The brand is making a statement the world can rally behind: great pizza is star-worthy. With the launch of their new Pan Pizza, Papa Johns is ready to prove it.
“This is a love letter to a food that has shaped moments and memories for decades,” said Jenna Bromberg, Chief Marketing Officer at Papa Johns. “That’s why we’re putting our Pan Pizza front and center. If any QSR pizza belongs in a MICHELIN-level conversation, it’s this one. Years in the making, our Pan Pizza was built to impress.”
Why Pan Pizza
Papa Johns and the new Pan Pizza check every box of what MICHELIN looks for in a star-worthy contender:
Quality Ingredients: An intentional lineup featuring a garlic parmesan crust, a six-cheese blend made with real Mozzarella, Provolone, Fontina, Asiago, Parmesan and Romano, and fragrant Italian seasoning. And, like every item on the Papa Johns menu, the Pan Pizza is made with no artificial flavors or colors.
Mastery of Technique: Years of testing, iterating, proofing and perfecting for that crispy edge and cloud-soft center
Harmony of Flavors: A balanced blend of taste and texture in every bite
Consistency: The same high standards delivered at every Papa Johns restaurant nationwide
A One-Night-Only, Star-Worthy Dining Experience
To kick off the MICHELIN bid, Papa Johns is transforming a Manhattan location into one of the hardest-to-book dining rooms in New York for one night only. On Thursday, February 19, Papa Rewards members can step into an intimate, reservation-only dining experience that puts Papa Johns and the new Pan Pizza in a whole new light. Guests will experience:
A three-course, pizza forward chef-curated menu built around the new Pan Pizza and Papa Johns most premium ingredients
Pepsi-Cola® pairing flights led by a dedicated Soda Sommelier to intensify, brighten and complement the flavors throughout the entire menu
An elevated, softly lit atmosphere crafted to showcase the artistry behind every slice
Seats are extremely limited. Reservations will be granted on a first-come, first-served basis to a limited number of members who qualify. To check eligibility and secure your spot, visit papajohns.com/NYCexperience on Wednesday, February 11.
Not a Papa Rewards member yet? What are you waiting for? Join here!
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga., and Louisville, Ky., and is the world’s third-largest pizza delivery company with approximately 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit www.PapaJohns.com or download the Papa Johns mobile app for iOS or Android.
About Pepsi Co
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated nearly $94 billion in net revenue in 2025, driven by a complementary beverage and convenient foods portfolio that includes Lay's, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and follow on X (Twitter), Instagram, Facebook, and LinkedIn @PepsiCo.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260211888001/en/
Media Contact:
michelle_philippe@papajohns.com
Original: Papa Johns Makes a Bold Run to Become the First Pizzeria Awarded a MICHELIN Star
US Market News
5月前
The Wait is Over: Pan Pizza Has Entered a New Era at Papa JohnsJanuary 28, 2026 5:00 PM
Business Wire
The brand reimagines a fan favorite with a next-level Pan Pizza loaded with edge-to-edge toppings, a six-cheese blend and a crispy garlic parmesan crust
Pan Pizza is coming to Papa Johns, and it’s bolder than ever. Starting Thursday, January 29, fans nationwide can experience a new pan pizza crafted to raise the bar on a nostalgic favorite. Built on years of culinary development, Papa Johns Pan Pizza brings together crispy caramelized edges, a pillowy, airy center and an indulgent six-cheese blend for a rich, crave-worthy experience.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260128468290/en/Papa Johns Pan Pizza
“After nearly a decade, we've reimagined Pan Pizza to bring it back onto our menu,” said Jenna Bromberg, Chief Marketing Officer of Papa Johns. “Consumer expectations for flavor and value are higher than ever. And the pan pizza category is crowded, which is why we took a deliberate, consumer-led approach to developing the perfect recipe, and focused on getting every detail right. Pan pizza is nostalgic, indulgent and so beloved, and we saw the chance to elevate a pan-style pizza in a way that feels distinctly Papa Johns.”
A Pan Pizza Experience Designed Around Texture and Flavor
Papa Johns Pan Pizza brings unique texture and bold flavor at every layer:
A fluffy, thick crust with an airy interior
Parmesan cheese and Papa Johns Special Garlic Sauce baked directly into the bottom of the pan for a golden, caramelized finish and crispy savory crunch
A decadent six-cheese blend made with real cheese made from Mozzarella, Provolone, Fontina, Asiago, Parmesan and Romano
Built to hold up to seven edge-to-edge toppings
A final dusting of Italian seasoning for a flavor-packed finish
No Artificial Colors or Flavors
“Consumers shouldn’t have to settle for ‘good enough’,” said Shivram Vaideeswaran, Senior Vice President of Brand Marketing at Papa Johns. “We didn’t bring Pan Pizza back to simply participate in the category; we rebuilt it from the pan up to raise the standard. From the golden, crispy edges to the soft, airy center and bold, indulgent flavors in every bite, every detail was intentional. This isn’t just another launch, it’s our statement that great pizza matters, and our new Pan Pizza proves it from the very first bite.”
Papa Johns Pan Pizza will be available nationwide starting at $11.99 for a 1-topping medium-sized pizza beginning Thursday, January 29, at participating Papa Johns locations. Visit papajohns.com or download the Papa Johns app to locate your nearest Papa Johns.
Not a Papa Rewards member yet? What are you waiting for? Join here!
About Papa Johns
Papa John’s International, Inc. (Nasdaq: PZZA) opened its doors in 1984 with one goal in mind: BETTER INGREDIENTS. BETTER PIZZA.® Papa Johns believes that using high-quality ingredients leads to superior quality pizzas. Its original dough is made of only six ingredients and is fresh, never frozen. Papa Johns tops its pizzas with real cheese made from mozzarella, pizza sauce made with vine-ripened tomatoes that go from vine to can in the same day and meat free of fillers. It was the first national pizza delivery chain to announce the removal of artificial flavors and synthetic colors from its entire food menu. Papa Johns is co-headquartered in Atlanta, Ga., and Louisville, Ky., and is the world’s third-largest pizza delivery company with approximately 6,000 restaurants in approximately 50 countries and territories. For more information about the company or to order pizza online, visit www.PapaJohns.com or download the Papa Johns mobile app for iOS or Android.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260128468290/en/
Media Contact:
michelle_philippe@papajohns.com
Original: The Wait is Over: Pan Pizza Has Entered a New Era at Papa Johns
BottomBounce
11月前
Papa John's does not use organic ingredients for its entire menu $PZZA ⚠️ What Makes Papa John’s Pizza Less Healthy?
While pizza can be enjoyed in moderation, several components of Papa John’s pizzas contribute to them being less healthy, especially when consumed regularly. Here's a breakdown:
1. Crust (Especially Pan or Stuffed Crust)
Health concern:
Made with refined white flour, low in fiber and nutrients.
Often contains soybean oil, which is a refined seed oil.
Why it matters:
Refined carbs can cause blood sugar spikes and contribute to weight gain.
Seed oils like soybean oil are high in omega-6 fatty acids, which in excess may contribute to inflammation, especially when highly processed or oxidized.
2. Cheese
Health concern:
High in saturated fat, cholesterol, and sodium.
Why it matters:
Excess saturated fat can raise LDL (“bad”) cholesterol, increasing heart disease risk.
Cheese is calorie-dense and easy to overconsume.
3. Processed Meats (Pepperoni, Sausage, Bacon)
Health concern:
High in sodium, saturated fat, and preservatives like nitrates and nitrites.
Why it matters:
Regular consumption of processed meats is linked to heart disease, high blood pressure, and increased cancer risk (especially colorectal).
4. Sauces and Dips (e.g., Garlic Sauce)
Health concern:
Papa John's buttery garlic sauce contains soybean oil and hydrogenated oils.
Very high in calories (150–200+ per cup), saturated fat, and sometimes trans fats.
Why it matters:
Refined seed oils used in sauces can be inflammatory and disrupt omega-3 to omega-6 balance in the diet.
High-calorie sauces can double your total calorie intake without adding much nutrition.
5. Portion Size
Health concern:
Pizza is calorie-dense and easy to overeat.
Why it matters:
A few slices can easily exceed your daily recommended intake of sodium, fat, and calories.
🧪 A Note on Soybean Oil and Seed Oils
Papa John’s uses soybean oil in several items—crusts, sauces, and dips.
Soybean oil is a refined seed oil, high in omega-6 fatty acids.
Excessive omega-6, especially without enough omega-3, is associated with chronic inflammation, which is linked to conditions like heart disease, obesity, and diabetes.
These oils are also often chemically processed and exposed to high heat, which can create oxidized byproducts—compounds that may contribute to cell damage and aging.
stocktrademan
5年前
PZZA buy 128.65
only buying the squeeze in the uptrend for the breakout swing trade
there is a solid bullish engulfing candlestick but it not required really
can also hold and follow the trend as long as TTM_Wave #2 stays blue above 0
don't care about the arrows, color of the TTM_Trend, if the TTM_Squeeze histogram is red below 0, if TTM_Wave #1 ("Wave1") goes below 0, if TTM_Wave #3 ("Wave2Low") goes red below 0, what only matters is TTM_Wave #2 ("Wave2High") stays above 0...
if preferring a closer stop and quicker reaction to adverse events, then consider getting out if either Wave #2 or Wave #3 go negative...
regardless if the approach is swing trading or trend following...
https://finance.yahoo.com/quote/PZZA/profile?p=PZZA
https://www.barchart.com/stocks/quotes/PZZA
https://finviz.com/quote.ashx?t=PZZA
https://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=PZZA
https://stockcharts.com/c-sc/sc?chart=PZZA,uu[e,a]dhclyiay[uu][pb5!b10!b50!b100!b200!d20,2!h.02,.20!f][vb5!b20][iut!lv8!lk9!LE12,26,9!ll14!la6,13,5!la8,17,9!la12,26,9!uc14!ub14!ub6!lo!lp7,3!lh9,3!LI14,3!lxa!ld8!lq!lg14!lf14][j20444984,y]&r=3555b
https://www.barchart.com/etfs-funds/quotes/PZZA/technical-chart?plot=CANDLE&volume=toPZZA&data=DO&density=X&pricesOn=1&asPctChange=0&logscale=1&indicators=TREND&sym=PZZA&grid=1&height=500&studyheight=100&timeframe=2%20Months
normal chart
log chart
normal chart
log chart
conix
7年前
Papa John's International: The Turnaround Has Just Begun
Dec. 17, 2019 12:36 PM ET | About: Papa John's International, Inc.
Stamina Capital
Summary
We believe that Papa John's International, Inc. fits our turnaround framework with ~50% upside over the next 12 months.
The company has hired a highly qualified new management team with a clear plan to accelerate comparable store sales, drive improved unit economics, and improve net restaurant growth.
We believe PZZA has a reasonable chance of a take out over the next 2-3 years which could drive as much as 75-100% upside.
Elevator Pitch
We believe that Papa John's International, Inc. (PZZA) fits our turnaround framework with ~50% upside over the next 12 months driven by a highly qualified new management team with a clear plan to accelerate comparable store sales, drive improved unit economics and improve net restaurant growth. Furthermore, we believe PZZA has a reasonable chance of a takeout over the next 2-3 years which could drive as much as 75-100% upside.
Rob Lynch (the new CEO hired in September 2019) was part of the highly successful Arby's turnaround where he helped drive average unit volumes (AUVs) >25% over ~4 years through menu innovation and superior marketing - we believe that he will use a similar playbook at PZZA which should drive comps up to 3%+ (from negative over the past two years). [1]
The company has brought on a best-in-class team to support Rob with a new COO (Jim Norberg who was the former Chief Restaurant Officer at McDonald's North America) and a new CMO (Max Wetzel who worked with Rob at Heinz)
Starboard Value owns ~15% of the company which improves alignment across shareholders and the new management team
We believe that PZZA has the potential to dramatically increase new stores over the next decade as it currently has 5,000 units while its closest peers have 15,000 - 20,000 units (Domino's and Pizza Hut). [1]
PZZA currently has ~5,000 units with ~600 company-owned North American locations, ~2,650 North American franchised locations (flat over the past 3 years) and 2,100 international locations (growing at 7-10% per annum)
Primary research suggests that there is a new group of franchisees (brought into the system in 2019) that plan to accelerate net restaurant growth as the unit economics continue to improve
Business Description
PZZA is one of the big 4 in the pizza industry with a ~10% share of total US sales. [1] PZZA is modestly higher priced than its other 3 peers as its quality is perceived to be higher than Domino's, Pizza Hut and Little Caesars - hence the company slogan "better ingredients, better pizza." PZZA predominantly generates revenue through three sources: (1) sells pizza through its owned stores (2) makes a royalty of ~5% on sales of pizza at the franchisees (3) sells dough, sauce, ingredients, and equipment to its franchisees with a markup. While PZZA clearly sells pizza, we frame it slightly differently. We believe PZZA sells entrepreneurship to small business owners. PZZA generates the majority of its income from the franchisees and in turn is highly incentivized to have those franchisees grow units. The franchisees typically invest many multiples of the parent company in capital expenditures and marketing to grow the brand.
Industry and Company Background
The pizza industry is an a-cyclical slow grower in the US, (growing <1% per annum since 2010) but the big 4 have continued to gain share growing LSD to MSD annually as they take business from local mom and pops. Internationally, pizza grows in the MSD to HSD per annum and there is significant white space (PZZA grows units at HSD annually). Between 2010 and 2017 PZZA grew by ~7% CAGR with comps in the 3-4% range and units growing ~3-4% CAGR. Over that period EBITDA grew at ~7% CAGR and EPS grew at ~15% as the company bought back ~30% of the outstanding shares. Returns on capital improved over time and the stock appreciated from ~$12 a share to over $90, generating >6x return.
In the middle of 2017 growth began to slow. While it is impossible to pinpoint why the growth slowed, John Schnatter (the John in Papa John's) attributed it to the NFL where Papa Johns was the official pizza sponsor. As some of you may remember, Colin Kaepernick knelt during the national anthem in response to police treatment of minorities in America. NFL ratings suffered as some viewers believed it was distasteful and Schnatter made his views public on conference calls driving negative publicity. Schnatter decided to seek public relations assistance from an outside consultant through 2018. In July of 2018, one of his private conversations with the outside consultants was leaked to the media. Schnatter used a derogatory racial slur which drove dramatic negative publicity. Comparable company sales imploded, dropping >13% in Q3 and Schnatter was eventually pushed out as both CEO and Chairman. He was replaced by Steve Ritchie, a long-time employee of the company. Schnatter continued to do damage to the brand as he berated the company and board from outside the organization and eventually decided to sell down half of his ~30% stake in the company.
In February 2019, Starboard Value decided to invest ~$250m via convertible preferred equity. Starboard condemned the actions of the previous CEO and supported the company's new direction that emphasized racial/gender inclusion, employee training, and community outreach to those that were offended by the previous CEO's horrific comments. The proceeds were used to pay down debt and provide liquidity for the company to invest in royalty relief and the marketing fund. In March 2019, PZZA partnered with Shaquille O'Neal to become one of the company spokesmen. Through the first three quarters of the year, the company continued to struggle but made progress in stemming store closures and hiring a new management team. In April the company hired Karlin Linhardt as CMO (former executive from Subway and McDonald's that has since been replaced by a former colleague of the new CEO) and in July added Jim Norberg (former EVP and COO of McDonald's) as Chief Restaurant Operations Officer. Through the period we tracked the company but decided to pass as we wanted a new outsider CEO. At the end of August, the company announced that Rob Lynch would join as CEO. Lynch previously was the CMO and President of Arby's. Arby's was purchased by Roark (private equity) in 2013 and is widely perceived to be a highly successful turnaround where Rob was a significant contributor over his 6 years with the company. Rob was credited with the "We Have The Meats" campaign that to this day defines the brand. Rob also worked under Brian Niccol of Chipotle at Taco Bell (another highly successful turnaround we monetized in 2018/2019).
Thesis/Variant Perception
Thesis Point 1
Pre-2017 PZZA was a highly successful franchise model despite its historically sub-par management team. The new management team is best-in-class and we believe they have the potential to dramatically improve operations, unit economics, and growth.
From 2007-2017 PZZA had ~10 years of positive comps and grew their restaurant footprint by ~60%. Over that period, PZZA had limited menu (all in the pizza category) and marketing innovation and franchisee unit economics were stagnant at best. We believe that Rob Lynch and the new management team have the potential to dramatically improve all components of the business.
Thesis Point 2
PZZA has the potential to drive industry-leading comps driven by menu innovation, improved marketing/loyalty programs and partnering with the platforms (Uber, DoorDash, etc.) to increase their customer base.
The PZZA menu has been stagnant for a decade with limited innovation in health-conscious products (salads, meat-less, etc.) sides or sandwiches. On the Q3 2019 earnings call Lynch suggested menu innovation was top of mind and that they had "taken the guardrails off the innovation team." Over the past year, the company has been testing many new products and primary research suggests there are ~5-10 new products that could launch over the next 1-2 years.
Rob Lynch is a marketing guru and was credited with Arby's highly successful "We have the meats" and the viral "Vegetarian Hotline" which we believe he will use as a template at PZZA. He was also a driving force in re-orienting the marketing mix toward more social media, more effective national media and highly targeted local campaigns. Primary research suggests that the management team has quickly changed advertising agencies de-emphasizing their national sports league spend for more locally relevant community-based advertising and that it has gone a long way. Shaquille O'Neal was brought on as a national spokesman and board member to improve brand image and target lapsed minority customers.
PZZA is partnering with the aggregators (Uber Eats, DoorDash, etc.) to expand their customer base and drive orders at accretive unit economics. PZZA has struggled with finding both in store and delivery labor over the past few years and partnering with the aggregators has the potential to improve service levels and time to delivery. Aggregators have limited customer overlap with the core PZZA customer with the company suggesting ~80% of app users are new to the brand. The margins to franchisees are accretive as the aggregators sell at retail prices (typically $15+ for a pizza) vs ordering direct from PZZA where they offer consistent discounts (typically ~$10 for the same pizza) providing ample margin to pay the aggregator take rates. While under 3% of revenue today, we believe that the company can scale to HSD over the next few years at strong incremental margins to the franchisees.
PZZA has a loyal customer base despite limited personalized marketing. We believe that Lynch has the potential to significantly improve the PZZA loyalty program to increase frequency, expand day parts and drive ticket in line with other leading brands (Domino's, Chipotle, Chik-Fil-A) that have created highly engaging one-to-one customer relationships.
Thesis Point 3
PZZA has the potential to accelerate new unit growth in both North America and internationally with over 1,000 new units already under negotiation. PZZA has doubled international units since 2012 but is still a fraction of its major competitors that have ~4-5x the number of units. There is significantly less competition outside of North America and the brand is already in 44 countries. Over time we expect the company to densify its network in Europe/Russia and drive incremental growth in Asia and Latin America. Primary research suggests the potential to expand the European unit count by 1,000-1,500
PZZA has not been focused on growing its North American unit base for the past few years but that is set to change as the company improves unit economics. Primary research suggests the majority of closures are behind us. Since joining, the new management has re-engaged the North American franchise base and primary research suggests they are extremely excited about menu innovation and cost savings opportunities which have the potential to take unlevered cash on cash paybacks to ~3 years. The research also suggests there are many opportunities to consolidate and add new and better capitalized franchisees with the potential to meaningfully grow new units. Through the recent weakness, we believe savvy franchisees have started to consolidate the base and have already committed to growing.
Thesis Point 4
PZZA has a reasonable likelihood of being acquired by one of the large restaurant consolidators who value (1) the international growth opportunities (2) a-cyclical demand and (3) the resulting leveragability of assets which significantly reduces the cost of capital
At $2.6bn total enterprise value the asset is highly digestible by the much larger industry consolidators
Restaurant Brands International, Roark (private equity that owned Arby's/Buffalo Wild Wings/Sonic, etc.), JAB (owns Panera, Peet's Coffee, Einstein Bagels, Pret-A-Manger) and Wendy's are all potential bidders
Set Up
We believe that the set up for the stock is strong as there are forced buyers, a known short-term seller that has pressured the stock but will have fully liquidated their position in Q1 and accelerating comp store sales growth
PZZA is heavily shorted with ~4.9m shares on loan representing >18% of total shares and ~30% of lendable shares. As our thesis plays out we believe there will be "forced buyers" to accelerate the return profile
PZZA's former CEO (John Schnatter) has been aggressively liquidating his stake in the company selling ~2.5m shares or 6 days of trading volume in the past 6 weeks pressuring the stock and despite that the stock is up which speaks to the investor interest
Comps have inflected positively and have accelerated to >4% based on the most recent data and primary research checks.[2]
A combination of easier comps (down ~8% in Q4 2018), better advertising and modest menu innovation has driven an improvement in traffic that we think sets the stage for a strong 2020
Further, we expect strong margin flow through as the company has put new cost savings measures in place aimed at accelerating margin recovery
Valuation
Base Case
Our base case implies a value of ~$85-90 per share based on a discounted cash flow model where we assume:
~200 net restaurant growth ("NRG") per annum (160 international and 40 in North America which is in line with the 2011-2016 openings)
System wide comps of ~3% per annum (in line with the industry and below the 2011-2016 average) which drives AUV back to the previous peak of $1.1m by 2023
Operating margins that recover to "pre-crisis" 2016 levels in 2023 (at ~9.6%) and grow ~40-50 bps per annum thereafter
An 8% weighted average cost of capital and a 2% perpetuity growth rate
Risk Case
Our risk case implies a ~$50 stock price (NRG of 180, ~0-1% comps, margins that reach previous peak levels in 2027, similar discount rates).
Our reward case implies a price over $100 and assumes a faster recovery (~5% comps in 2020 and 2021, 300 NRG and back to peak margins by 2023, similar discount rates).
Pre-Mortem/Risks
1) Management turnover - we are explicitly betting on the new team and would consider exiting the position if the CEO/COO were to abruptly leave without a comparable replacement.
2) Food scare that drives customer defection - while unlikely given the nature of the cooking process, this is always a risk in the restaurant space.
3)"John Schnatter risk" - the former CEO has consistently made derogatory public comments about the business and its management team. While we doubt that the comments matter to customers or the fundamentals, we would be concerned if he were to repeat his racial slurs or potentially alienate customers through his political affiliation.
4) Platform proliferation - UberEats, Grubhub, DoorDash, Postmates, and other upstarts have increased competition in the delivery space. While PZZA has partnered with the winning platforms, there is always a chance that new food choices could drive lower pizza consumption (the most common bear case for Domino's).
Key Investment Factors
1) Comparable store sales - marketing, menu innovation, platform partnerships
2) Franchisee unit economics
3) Net restaurant growth
conix
7年前
‘Papa’ John dishes on n-word ouster: Without me, the pizza ain’t as good
By John H. Schnatter
October 29, 2019
“Papa John” Schnatter founded his namesake company in 1984, and built it into the nation’s third-largest pizza chain. But after he criticized the NFL’s inability to resolve the anthem protests, he was pushed out as CEO on Jan. 1, 2018. In a column submission to The Post, Schnatter argues that in the time since, his business — of which he still owns 16.7% — has been poorly run, and that it was a mistake to let him go.
As the founder and single largest shareholder of Papa John’s Pizza, I know a thing or two about management accountability. It was two years ago that I led my last quarterly earnings call for Wall Street analysts as the chairman and CEO.
Our sales at the time were slowing considerably, largely owing to the NFL’s mishandling of the protest controversy. A quarter of our marketing budget was invested in the NFL each year; as NFL viewership declined, so did customers’ exposure to our marketing.
More controversy ensued months later, when an internal diversity-training meeting was secretly taped and leaked to Forbes with a false narrative about a comment I made. In the meeting, I expressed frustration over the NFL controversy and paraphrased someone who had purportedly used the n-word on a frequent basis.
In fact, I was expressing my disdain for racism throughout the meeting, which was quite productive and demonstrated Papa John’s commitment to a diverse, positive and enriching environment. For decades, we’ve brought people of all backgrounds together for their mutual benefit, spreading tremendous success to employees, franchisees, partners and shareholders alike.
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Ironically, Gov. Andrew Cuomo used a racial comment during a live radio interview last week, and African American state leaders rushed to defend him, showing their understanding of the intent and context of his words while also considering his character.
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Cuomo’s situation is in stark contrast to the irrational overreaction and internal exploitation of my comments. The double standard is jarring. I would have hoped to have been given the benefit of the doubt, just as Cuomo was. Instead, unnamed sources reversed the meaning and intent of my words to damage me.
This has left the franchisees and the company to struggle without my leadership and brand expertise ever since.
I have a huge stake in Papa John’s, not just financially, but also with 35 years of my blood, sweat and tears. In August 2018, I tried warning my fellow directors and put out a news release that the performance of the company was bound to get worse. My prediction has been proved right for four quarters since then and still today.
This year, I opposed management’s budget proposal, because I recognized that, among other things, no one on the board and very few in executive leadership had any experience in the pizza industry. They couldn’t possibly understand the steps necessary to correct this very complicated, struggling business as I had on a number of occasions in the past. One such comeback led to the growth of our stock price from more than $87 per share in 2017, up from $6.50 per share in 2008.
More important, what I’ve observed in the months since then is that the Papa John’s management may be emphasizing cost-cutting over product quality. Even the pizzas don’t appear to be made the way that I made them just a few years ago.
“Better Ingredients. Better Pizza.” isn’t just a slogan — it represents our core belief about the quality of our products, starting with the signature ingredients in my original recipes, including fresh packed proprietary pizza sauce, original fresh dough and garlic butter.
SEE ALSO
Papa John's founder to employees: 'I miss you'
I hear from store managers, franchisees and employees, and I believe that their morale is at an all-time low. Some are taking out additional loans and putting off future plans as they tighten their belts based on the current performance of the company. Franchisees tell me that banks are even hesitant to lend them money to buy and build more stores. This troubles me deeply.
Based on my experience, recent declines in store economics make it extremely difficult to increase earnings per share for shareholders, now or in the immediate future.
Leadership means taking responsibility for the command of your ship and not using scapegoats. This management team needs to step up and change course — immediately — to revive our iconic American brand. I should know, since my team and I built more than 5,000 stores from scratch and brought us through other down cycles.
I’m watching carefully and hoping for good news — but a lot rides on the upcoming report for this company Nov. 5. At stake are the interests of thousands of people I consider my family, whose livelihoods depend entirely on the success of the current team to return our company to greatness.
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