Papa John’s has continued to pursue its expansions after opening of its 50th restaurant in Spain. The franchise will operate under Drake Enterprises AG. This marks the first Papa John’s restaurant franchise done since May 2016.
“We’re thrilled with the growth we’ve experienced with the Papa John’s brand in both Barcelona and Madrid,” Managing Director of Operations for Drake Group Catalina Silva, told reports. “We look forward to further expanding BETTER INGREDIENTS BETTER PIZZA to all parts of Spain.”
“Drake is a very successful franchise group that has proven their commitment to the brand,” Senior Vice President & Chief Development Officer of Papa John’s Tim O’Hern, expressed in a statement. “We’re pleased with their hard work and dedication in opening the Spain market and introducing customers to our quality pizza.”
Furthermore, Papa John’s International eyes more potential franchisees in Paris, France, Belgium and Denmark.
Papa John's Take-Out Pizza Restaurant. Papa John's is the third largest take-out and pizza delivery chain in the world.
In other news, Papa John’s has also announced its first quarter results recently. The earnings per diluted share of the company noted a $0.50 for 2018. This is somehow a down compared to $0.77 recorded for the first quarter of 2017.
Also, the North America comparable sales saw a 5.3% drop during the period. However, the International comparable sales added 0.3% whereas the international franchise sales surged 21.1% during the period. This has included the impact of foreign currency as well.
Additionally, the company added 13 net unit openings in first quarter of 2018. This was driven by International operations recorded during the said period.
“Although first quarter results were lower than the prior year, they were consistent with our expectations. We remain focused on enhancing our value perception and driving our strategic initiatives,” President and CEO of Papa John’s Steve Ritchie, told reports.
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