Papa John’s International, Inc. (Nasdaq: PZZA) yesterday announced that systemwide comparable sales for the five weeks ended September 30, 2001 decreased 0.1%, composed of a 1.4% increase at franchised units and a 4.1% decrease at company-owned restaurants. Systemwide comparable sales for the third quarter ended September 30, 2001 were flat, composed of a 1.3% increase at franchised units and a 3.3% decrease at company-owned restaurants. Total systemwide international sales increased 21.9% for the five-week period and 22.8% for the third quarter on a constant U.S. dollar basis, over the comparable periods last year.
The company reaffirmed that it expects third quarter earnings per share to be in the middle to upper middle of the previously announced range of $0.42 to $0.49. The company is scheduled to announce third quarter earnings results on October 30 after the market close.
At October 10, 2001, there were 2,722 Papa John’s restaurants (633 company-owned and 2,089 franchised) operating in 47 states and nine international markets. Papa John’s also owns or franchises 194 Perfect Pizza restaurants (3 company-owned and 191 franchised) in the United Kingdom. For more information about the company, visit Papa John’s at http://www.papajohns.com.
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: 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; new product and concept developments by food industry competitors; and the uncertainties associated with litigation. 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.