Papa John's down after annual sales forecast cut
PZZA•Papa John's cuts annual sales outlook on North America weakness
Papa John's International shares were down 6% at $28.02 in premarket trading after the company cut its annual sales forecast, citing challenges in North America.
The company said it faces "ongoing headwinds in North America driven by the softer consumer environment, lower order volumes, and a highly promotional QSR marketplace," according to CEO Todd Penego.
Papa John's now sees annual global system-wide restaurant sales declining in the range of 2% to 4%, compared with prior expectations of flat-to-low single digits.
It also expects 2026 North America comparable sales to decline between 6% and 8%, versus prior expectations of a 2% to 4% decline.
Papa John's, however, beat second-quarter revenue and profit estimates on continued momentum in its international business.
As of the last close, PZZA was down about 23% year to date.
