Papa Johns' prices are driving some customers away | CNN Business

  • 📰 CNN
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 95%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Consumers are pulling back on discretionary spending, and Papa Johns is taking a hit

Sales at North American locations open at least a year fell 1% in the quarter ending on June 25, compared to the same period last year, dragged down by high prices at the chain’s franchise locations. “Some of the pricing … had gotten out in front of where the consumer was willing to spend,” said Papa Johns\n \n CEO Rob Lynch during a Thursday analyst call discussing the quarterly results.

Sales volumes fell in the second quarter, and cold cuts, cream cheese and kids’ single-serve beverages are losing share to discounted or lower-priced competitors, Kraft Heinz CEO Miguel Patricio said this week. “We priced above the market,” Patricio said in a discussion of the company’s second-quarter results. “Here’s the good news — the pricing is done.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fitch tells CNN why it downgraded America now | CNN BusinessFitch Ratings is defending its controversial decision to downgrade the US credit rating by pointing to the nation’s mountain of debt.
Source: CNN - 🏆 4. / 95 Read more »