Papa John’s to shut a whole lot of eating places because it strikes to chop prices | EUROtoday

Papa John’s is ready to shut a whole lot of underperforming eating places because it strikes to chop prices.

The pizza chain will shutter 300 places by the tip of 2027, together with 200 that can shut this 12 months, Chief Financial Officer Ravi Thanawala introduced in a fourth quarter earnings name Thursday.

Thanawala stated Papa John’s will shut eating places “not meeting brand expectations or lack a clear path to sustainable financial improvement, as well as locations where we can effectively transfer sales to a nearby restaurant,” per CNN.

Papa John’s was based in 1984 in Jeffersonville, Indiana, and now has roughly 6,000 eating places in about 50 nations and territories. It has round 3,500 U.S. places.

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It’s unclear which places will shut their doorways. The Independent has reached out to Papa John’s for remark.

Sales for Papa John’s U.S. places had been down 3 p.c and complete revenues, $2.1 billion, had been flat final 12 months in comparison with 2024. Looking on the pizza chain’s fourth quarter earnings, U.S. restaurant gross sales and complete revenues, $498 million, had been each down 6 p.c 12 months over 12 months.

Thanawala additionally introduced Thursday Papa John’s was chopping about 7 p.c of its company workforce. The firm stated it had about 700 company employees as of December 2024.

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Despite the lackluster earnings, Papa John’s opened 279 new eating places within the 2025 fiscal 12 months, together with 96 places in North America and 183 places overseas.

“In the fourth quarter, solid execution drove the company’s fifth consecutive quarter of positive comparable sales in our International markets, while North America results reflected a weak consumer backdrop and elevated promotional environment,” CEO Todd Penegor stated in an announcement.

“In 2026, we are focused on continuing our transformation work to best position Papa Johns to win in a dynamic QSR [quick service restaurant] category,” Penegor continued.