The latest edition of Restaurant Business' podcast, “A Deeper Dive,” once again takes on the Papa John’s-John Schnatter controversy.
For some time, Papa John’s was one of the most consistent performing chains in the restaurant space.
But that was until November, when founder Schnatter took aim at NFL player protests for the company’s weakening same-store sales. And then, last month, he acknowledged using a racial slur during a conference call.
The resulting controversy sent same-store sales plunging. They fell 6.1% in the second quarter, and then 10.5% in July. The company’s stock is at a five-year low. The company believes operators could close stores. And it could breach requirements in its debt agreements.
In this special edition of our podcast, Executive Editor Jonathan Maze and Editor-at-Large Peter Romeo discuss the dispute—and where Papa John’s goes from here.
Please have a listen.
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