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Papa Johns Is Closing Hundreds of Locations
- During the Feb. 26 earnings call, Papa Johns said it will close approximately 300 underperforming restaurants by 2027, with about 200 in 2026, Ravi Thanawala stated.
- After a strategic review, the company determined 300 restaurants are `not meeting brand expectations` amid a brutal fourth quarter and a 5.4% decline in North America same-store sales, executives said.
- The company is also restructuring operations by cutting about 7% of its roughly 700-person corporate workforce, accelerating its refranchising program, and planning 40–50 gross new restaurants in 2026 among 3,500 total locations at end of 2025.
- CEO Todd Penegor said `These actions... represent meaningful progress against our transformational objectives`, with Papa Johns expecting to save at least $25 million through 2027, and roughly $13 million in 2026.
- Across the sector, competitors are also resizing their fleets, as Pizza Hut plans about 250 closures and Domino's Pizza reported a 3.7% same-store sales growth earlier this week while Papa Johns posted a 1% global sales increase despite a North America sales dip of 2%.
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Total News Sources31
Leaning Left4Leaning Right1Center23Last UpdatedBias Distribution82% Center
Bias Distribution
- 82% of the sources are Center
82% Center
14%
C 82%
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