"These actions, alongside recent changes to our organizational structure to drive efficiencies, provide a strong foundation for our future. The fourth quarter report presented Thursday reported a 2% decline in North America same-store sales, due to a downturn in company-owned stores."
"Optimizing our restaurant portfolio and strategically closing underperforming restaurants are among the most impactful actions we can take to improve restaurant profitability and fleet efficiency."
"Papa Johns reported 6% revenue declines of $498 million. Its net income totaled $9 million, or 21 cents per share down from $15 million or 44 cents per share the same quarter last year."
Papa Johns announced plans to close 300 stores nationwide by 2027 as part of cost-cutting measures following a difficult fourth quarter. The company reported a 6% revenue decline to $498 million and net income dropped from $15 million to $9 million compared to the same period last year. North America same-store sales declined 2%, primarily from company-owned locations. In response, Papa Johns will lay off 7% of corporate staff and accelerate its re-franchising program to reduce company-owned stores. The company had approximately 3,500 locations at the end of 2025. While specific North Bay closures remain unconfirmed, the Santa Rosa location is no longer listed on the company map.
#store-closures #financial-decline #pizza-delivery-industry #corporate-restructuring #re-franchising-strategy
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