Papa John's will close 300 underperforming locations by the end of 2027, including 200 this year, due to declining sales.
Lara Maior
International
Jonathan Weiss/ Shutterstock.com
Always see our news on Google
Papa John's has announced that it will close 300 underperforming restaurants by the end of 2027, with 200 locations set to close this year, according to CFO Ravi Thanawala. The decision comes as part of a cost-cutting strategy, considering that sales at U.S. locations fell by 3% last year, and total revenues remained stagnant at $2.1 billion. Additionally, Papa John's will reduce approximately 7% of its corporate workforce, which numbered about 700 employees in December 2024. Although financial results have not been promising, the company opened 279 new restaurants in fiscal year 2025. CEO Todd Penegor emphasized that, despite challenges in the North American market, the company is focused on transforming itself to adapt to a competitive environment in the fast-food restaurant sector.
Sources
Latest News
14:38
Argentinian President Javier Milei accuses Spanish Prime Minister Pedro Sánchez of using migrants to gain votes
14:37
The authorities have increased personnel and utilized maximum infrastructure to manage the increased traffic at PTF Sculeni, where 30,000 people have crossed in the last 48 hours.
14:37
Claudiu Năsui argues that Bulgaria benefits from the lack of energy storage capacity in Romania, and an expert says that the scenario is plausible.
14:33
Nuclearelectrica announces the purchase of electricity from Ukraine, through Energocom, the energy supplier from the Republic of Moldova
14:27
A Romanian and a Slovak were reported to the police in Germany for noisy work done on Sunday.
See more news
Personalized news feed, AI-powered search, and notifications in a more interactive experience.
