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Papa John's Q2 Results: Strategic Closures And EPS Beat Drive Stock Higher
On Thursday, Papa John’s International, Inc. (NASDAQ:PZZA) reported a second-quarter fiscal 2024 decline of 1.3% year-over-year to $507.894 million, missing the consensus of $520.519 million.
The company reported adjusted earnings per share of 61 cents, beating the street view of 53 cents.
North America comparable sales were down 4%, and International comparable sales were flat. The second quarter saw 31 net unit closures due to planned strategic international closures, including 43 company-owned restaurants in the U.K.
Global system-wide restaurant sales were $1.20 billion, down 1% from last year, mainly due to lower North America ...