Papa John's down after annual sales forecast cut
BUZZ-Papa John's down after annual sales forecast cut ** Papa John's International PZZA.O shares down 6% at $28.02 premarket
** Co cuts annual sales forecast, hurt by challenges in North America
** PZZA faces "ongoing headwinds in North America driven by the softer consumer environment, lower order volumes, and a highly promotional QSR marketplace," says CEO Todd Penego
** Sees annual global system-wide restaurant sales forecast to decline in the range of 2% to 4%, compared to its prior expectations of flat-to-low single digits
** Says it expects 2026 North America comparable sales to decline between 6% and 8% vs its prior expectations of a 2% to 4% decline
** PZZA, however, beats second-quarter revenue, profit estimates on continued momentum in international business
** As of last close, PZZA down ~23% YTD
(Reporting by Sanskriti Shekhar in Bengaluru)
Recent news on Papa John's International
See all newsFor McDonald's and rivals, cheap deals no longer do the trick (updated)
For McDonald's and rivals, cheap deals no longer do the trick
U.S. STOCKS ON THE MOVE-Braveheart Bio, Paysign, Hertz Global
U.S. STOCKS ON THE MOVE-Ralph Lauren, Sempra, Parker-Hannifin, Lincoln International
Papa John's down after annual sales forecast cut