Today Papa John’s reported earnings that fell short of analyst expectations. Since reporting a quarter ago, shares are up greater than 30% as many investors expect that the company will be acquired.
The -9.8% domestic comp trend reported was similar to the trend reported last quarter. North American commissary sales declined 11% YoY primarily due to transaction declines.
The outlook for store level operations remain challenged and difficult to predict. That is what has many hoping that the company will pursue strategic options such as an acquisition.