Papa John’s posts 7.3% increase in Q1 2013 revenues
American pizza restaurant chain Papa John’s has reported a 7.3% increase in its Q1 2013 revenues to…American pizza restaurant chain Papa John’s has reported a 7.3% increase in its Q1 2013 revenues to $355.6m compared to $331.3m in the same quarter a year ago.
Net income for the first quarter of fiscal 2013 was $19.3m against $17m in the corresponding quarter of fiscal 2012.
During the quarter, the company made 34 net unit openings across the world.
Domestic company-owned restaurant sales increased $14.1m while international revenues increased $3.1m, primarily due to an increase in the number of restaurants and an increase in comparable sales of 8.2%.
Papa John's founder chairman and chief executive officer John Schnatter said tha the company maintained its momentum in the first quarter, with solid increases in EPS, global comp sales, and unit builds.
"We are excited about both the health of the pizza category and the strength of the Papa John's brand as we continue to grow around the world," Schnatter said.
As of 31 March 2013, Papa John's operated 4,197 outlets across the US and in 34 countries.
The comapny is looking to open approximately 1,400 restaurants, including 300 units in North America and 1,100 units internationally, over the next six years.
