Papa John's Turnaround is Taking Longer than Expected
Dow Jones08-06
1044 ET - Papa John's CEO Todd Penegor says the company's turnaround strategy is working, even though it's not progressing as fast as he'd like. "We are seeing encouraging signs of progress," he says on a call with analysts, citing a growing membership program, better-optimized supply chain, and investments in AI that have improved the customer ordering experience. "At the same time, we felt the impacts of the softer consumer backdrop and highly promotional QSR environment, which have continued to challenge our financial performance," Penegor says. "While our focus is unrelenting, it's clear that our transformation is taking longer than expected." Shares sink 15%.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments