Papa John’s Rising Sales Show Pizza Demand Remains Strong
- Chain opened record number of net new locations in first half
- Tight labor market, sourcing challenges weigh on industry
A Papa John's pizza.
Photographer: Joe Raedle/Getty Images
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Papa John’s International Inc. posted second-quarter sales that beat analysts’ expectations, showing that diners are still hungry for pizza more than a year into the pandemic.
For the key metric of same-store sales, the pizza chain reported a 5.2% gain in North America -- well above analysts’ average estimate of 1.1%. International same-store sales also came in higher than Wall Street’s expectations.