Papa John's reports a fifth straight quarter of declining sales
New York Papa John's reported declining sales for the fifth straight quarter on Tuesday. Sales at North American stores open at least a year fell 8.1% in the last three months of 2018, the company said during its fourth quarter and full year earnings release. For the year, that figure was 7.3% The fourth-quarter was still an improvement over the previous quarter, when North American same-store sales dipped 9.8%.
The pizza company first reported a slowdown, but not a decline, in November 2017, which its founder and then-CEO John Schnatter blamed on the NFL leadership's handling of player protests. He stepped down as CEO two months after the comments, which sparked a backlash and marked the beginning of a rough patch for Papa John's. Since then, North American sales have slumped both from fallout from Schnatter's comments and a separate controversy.
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