Papa John's August Metrics Show Continued Momentum
Papa John's Int'l, Inc. (NASDAQ: PZZA) released Tuesday preliminary comparable sales results for August that marked ongoing strong sales performance in North America and internationally.
What Happened: Papa John's said preliminary estimated same-store sales for the second month of the third quarter were up 18% at domestic company-owned restaurants, up 26.1% at North America franchised restaurants.
System-wide North America restaurant same-store-sales were up 24.2% while system-wide international restaurant same-store sales were up 23.3%.
Papa John's has been releasing regular monthly updates amid the COVID-19 pandemic and the corresponding "uncertainty and volatility."
"As we have added new customers throughout 2020, our customer satisfaction and brand affinity scores also continue rising," Papa John's' President and CEO Rob Lynch said in the release. "Our international business gained further momentum in August too and continues to improve as more countries across the globe open back up for business."
Why It's Important: Papa John's noted its regular investor update can be useful in analyzing results since franchisees pay a royalty fee and marketing contribution based on a percentage of individual franchise sales.
Same-store sales updates can also be used to compare Papa John's' performance versus its pizza peers and broader restaurant rivals.
Store Closure Update: Papa John's also said just 150 of its approximate 2,100 international stores remain closed, mostly in Latin America and Europe.
Many locations in universities and stadiums across North America also remain closed although these locations are not material to overall revenue and operating results, the company said.
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