Industry News | August 15, 2000

Papa John's Takes a Step Back

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Papa John's International, Inc. (Nasdaq:PZZA) announced August 14 that systemwide comparable sales for the four weeks ended July 23, 2000 decreased 0.8%, comprised of a 0.1% increase at company-owned restaurants and a 1.2% decrease at franchised units. This decrease is a break in the chain of steady growth the pizza franchise has experienced.

The company also announced that BIBP Commodities, Inc., the independent franchisee-owned corporation that administers a cheese purchasing program for the Papa John's system, implemented a pricing change effective July 31st. This change, prompted by continued favorable cheese and milk futures pricing, results in an approximate 10% reduction in the current price of cheese to Papa John's restaurants and will remain in effect through the end of 2000.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.