Papa John's Investor Day Likely to Spotlight Cost Cutting -- Market Talk

Dow Jones2024-12-06

1042 ET - Papa John's first investor day under newly appointed CEO Todd Penegor is expected to focus on how the pizza chain is reducing its expenses for unit development, cutting closures and reworking its international strategy, BTIG analysts say. "We think management has tackled many of the business' immediate needs, but remain concerned about structural issues that have bedeviled the company's entire public history," they say, noting a general lack of momentum toward these initiatives. Those issues include excessive management turnover, high closure rates, poor franchise health and an over-reliance on single-unit franchises amid an ever-changing international strategy, the analysts say. "All likely require multi-year efforts that no one has ever had the will or time to address." Papa John's shares are down nearly 35% YTD. (emon.reiser@wsj.com)

(END) Dow Jones Newswires

December 06, 2024 10:42 ET (15:42 GMT)

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Those issues include excessive management turnover, high closure rates, poor franchise health and an over-reliance on single-unit franchises amid an ever-changing international strategy, the analysts say. \"All likely require multi-year efforts that no one has ever had the will or time to address.\" Papa John's shares are down nearly 35% YTD. 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Those issues include excessive management turnover, high closure rates, poor franchise health and an over-reliance on single-unit franchises amid an ever-changing international strategy, the analysts say. \"All likely require multi-year efforts that no one has ever had the will or time to address.\" Papa John's shares are down nearly 35% YTD. 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