Nation’s Restaurant News:
Papa John’s International Inc. upped its expectations for annual earnings by two cents per share as the company said it has seen positive transaction momentum, market share gains and improved restaurant profitability.
The company, which operates or franchises 3,458 pizza restaurants worldwide, increased its annual per-share earnings guidance to between $1.42 and $1.46, up from previous expectations of earnings between $1.38 and $1.44 per share.
The 2009 guidance includes a negative impact of 35 cents from franchisee-support incentives celebrating the chain’s 25th anniversary, as well as restructuring costs from a round of layoffs at the company’s Louisville headquarters in September.
In 2008, the company reported earnings of $1.68 per share.
“The investments we have made in our system over the last 12 months continue to pay dividends for our brand, including in the areas of positive transaction momentum, market share gains and restaurant profitability,†said John Schnatter, the chain’s founder, chairman and chief executive.