Papa John's

Financing

Papa Johns' sales took a big hit last quarter

The fast-food pizza chain’s same-store sales fell 7% in the third quarter as new CEO Todd Penegor says the company is “acting with urgency” to strengthen the business. The company also made some management changes.

Financing

Todd Penegor steps in at a crucial time for Papa Johns

The pizza-delivery chain is losing ground to competitors as consumers shift to more value-oriented fare. It will be up to the former Wendy’s CEO to find the right balance.

The former Wendy’s chief executive will take the helm of the pizza chain immediately. The chain had been looking for a new CEO since the departure of Rob Lynch.

Papa Johns is bringing back its Cheesy Burger Pizza, after Pizza Hut created its Cheeseburger Melt, as major fast-food chains face challenges with their value reputation.

A softer consumer environment is more than offsetting the pizza chain’s boost in marketing in recent weeks. But profitability improved last quarter.

The Bottom Line: The pizza chain worked to convince franchisees to buy into a massive marketing shift. And then the brand’s CEO left.

The Bajco Group will open 50 restaurants in the Midwest, Arizona, Pennsylvania and Florida, as the pizza chain works to increase domestic development.

The pizza delivery chain is building on its “Better Ingredients, Better Pizza” with a new marketing slogan, “Better Get You Some," along with a campaign featuring Big Boi.

The Bottom Line: Growth that came so easy to pizza delivery chains like Domino’s, Pizza Hut and Papa Johns is now much harder to come by. And now two of them are looking for new leadership.

The fast-casual burger chain is plucking the Papa Johns chief executive to take over for Randy Garutti in May. Ravi Thanawala will become the pizza chain’s interim CEO.

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