Papa John’s Continues to Sell a Lot of Pies
Papa John’s International’s strong run this year continued through the third quarter and will most likely continue through the fourth quarter, especially if coronavirus cases keep rising. Papa John’s has benefitted tremendously from increased online ordering throughout the pandemic and from dine-in restaurants shutting down and being held to limited capacity.
Papa John’s reported that company revenues increased 17.1% in the third quarter ending Sept. 27 compared to the third quarter of 2019. Comparable sales increased 23.8% in North America and 20.7% internationally in the third quarter.
For the first nine months of the year, Papa John’s said that global restaurant sales growth is up almost 15%.
“Thanks to our focus on our strategic priorities, our commitment to an innovation mindset, and our dedication to supporting our team members and franchisees, Papa John’s delivered another quarter of outstanding results,” said President and CEO Rob Lynch. “Double-digit comparable sales growth, dramatically higher earnings and robust free cash flow all reflect a winning strategy and execution that have helped us deliver five straight quarters of same store sales growth.”