Papa John's International reported a 2% decline in North America comparable sales year-over-year, with the company's stock reaching a four-year low. This downturn is attributed to weaker organic delivery numbers, as customers increasingly prefer third-party aggregators, which now account for 16% of the business, up from 12% a year ago. The company's stock was down 6% in premarket trading, with a premarket drop of 3.7%.
🇺🇸 Papa John’s stock sinks to 4-year low as lower deliveries led to a sales miss https://t.co/UuH3GAQdK6
Papa Johns’ weak organic delivery numbers contribute to 2% same-store sales decline. Papa Johns’ customers continue chose third-party aggregators over first-party delivery during challenging first quarter https://t.co/KpLOT7NuEP https://t.co/DcDCMwsInc
Papa John’s International North America comp sales down 2% YoY: $PZZA: -3.7% PM https://t.co/64NgpsAwIW
Papa Johns down 6% premarket.
Papa Johns gets 16% of its business through third-party aggregators, up from 12% a year ago. $PZZA