Papa John's (PZZA) Prelim. Q3 Comps Increase 23.8%

Papa John’s International, Inc. (NASDAQ: PZZA) today provided preliminary estimated comparable sales information for the month of September and the third quarter fiscal period. In light of the uncertainty related to the pandemic, the company has continued to provide this information on a monthly basis.

President & CEO Rob Lynch said, “Six consecutive months of double-digit comparable sales growth were made possible by the hard work of Papa John’s team members and franchisees during the global pandemic. We remain confident that our innovation pipeline, marketing and technology platforms, and strong operations will continue to support strong results during, and after, the pandemic.”

Preliminary Estimated Comparable Sales for September 2020 Fiscal Period and Third Quarter

Preliminary estimated comparable sales information for the five weeks and the fiscal quarter ended September 27, 2020, relative to the same periods in the prior year are as follows:

(a) Represents the change in year-over-year sales for the same base of restaurants for the same fiscal period. Comparable sales results for restaurants operating outside of the United States are reported on a constant-dollar basis, which excludes the impact of foreign currency translation.

(b) Includes the impact of approximately 90 temporarily closed stores as of September 27, 2020, principally in Latin America and Europe. Excluding those stores, comparable sales growth for system-wide international restaurants would have been approximately 25% in Period 9 and 23% in the third quarter.

Update on Temporary Restaurant Closures as a Result of COVID-19

Of the company’s approximately 2,100 international franchised stores, approximately 90 are temporarily closed, primarily in Latin America and Europe, in accordance with government policies. In North America, almost all traditional restaurants remain open and fully operational. A number of non-traditional restaurants located in universities and stadiums are temporarily closed; these non-traditional locations are not material to the company’s revenues and operating results.

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