Papa John's announces franchisee assistance plan

Published 08/10/2018, 06:35 PM
© Reuters.  Papa John's announces franchisee assistance plan
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  • Papa John's (NASDAQ:PZZA) has set up a new assistance program for its franchisees to deal with "sales and operating challenges following comments made by the company’s founder" -- John Schnatter.
  • The program, supported by the company's Franchise Advisory Council and the Papa John's Franchise Association, calls for reductions in royalties, food-service pricing and online fees for the rest of the year.
  • It will also provide funds for "new marketing and re-imaging" involved in the company's new (Schnatter-free) brand direction. Costs are in line with guidance the company provided earlier this week.
  • Shares are up 0.6% after hours after slipping 2.9% during the regular session.
  • Now read: Papa John's: An Update On The Bull Thesis


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