Papa John’s first-quarter earnings topped expectations as the pizza chain held on to the momentum it saw during the coronavirus pandemic, even as the country reopens for business.
The stock was down 2.7% in Thursday’s premarket after the earnings announcement.
Pizza was a tried-and-true bet for many consumers who were seeking familiar and convenient foods for delivery in the early days of the health crisis. But thanks in part to menu innovations like Epic Stuffed Crust pizza, the company’s sales are still growing. Papa John’s also been working to improve its operations and has hired more than 30,000 workers over the last year.
Here’s what the company reported compared with what Wall Street…