Papa John’s International, Inc. (Nasdaq:PZZA) Friday (11 May) announced that domestic systemwide comparable sales for the four weeks ended April 29, 2001 decreased 5.3%, composed of a 6.9% decrease at company-owned restaurants and a 4.8% decrease at franchised units. Total systemwide international sales increased 27.0% for the four-week period, on a constant U.S. dollar basis, over the comparable period last year.
During the same period last year, domestic systemwide comparable sales increased 7.3%, benefiting from the timing of the company’s national Anniversary promotion in April 2000. The promotion, traditionally the company’s strongest of the year, ran during the first quarter this year, contributing to a systemwide comparable sales increase of 4.5% during the quarter. The company remains comfortable with projected systemwide comparable sales growth of flat to 2% for full-year 2001.
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At May 10, 2001, there were 2,654 Papa John’s restaurants (647 company-owned and 2,007 franchised) operating in 49 states and ten international markets. Papa John’s also owns or franchises 200 Perfect Pizza restaurants (3 company-owned and 197 franchised) in the United Kingdom. For more information about the company, visit Papa John’s at http://www.papajohns.com.
Except for historical information, this announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect management’s expectations based upon currently available information and data; however, actual results are subject to future events and uncertainties, which could cause actual results to materially differ from those projected in these statements. Factors that can cause actual results to materially differ include: the uncertainties associated with litigation; increased advertising, promotions and discounting by competitors which may adversely affect sales; the ability of the company and its franchisees to open new restaurants and operate new and existing restaurants profitably; increases in food, labor, utilities, employee benefits and similar costs; economic and political conditions in the countries in which the company or its franchisees operate; and new product and concept developments by food industry competitors. Further information regarding factors that could affect the company’s financial and other results is included in the company’s Forms 10Q and 10K, filed with the Securities and Exchange Commission.
