X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOUISVILLE, KY-Papa Johns plans to step up its growth, adding 240 new stores worldwide next year to its current network of about 2,900. However, the locally based company will also close between 70 and 100 restaurants during the period.

Half of the openings will be domestic, while the other new stores are going into other countries. Franchisees will run 80% of the units, while the company will own the rest of restaurants. Domestic franchised units account for most of the closings, and franchisees will run all of the international units.

The growth in 2006 is a step up from this year’s forecast, which calls for between 150 and 190 worldwide openings. The closings scheduled for 2005 are from 155 to 140 units.

Meanwhile, executives are predicting a year-over-year 2% to 3% same-store sales increase for the company’s domestic units next year. Same-store sales have jumped 6.7% for the first nine months of this year, according to the company’s Q3 report.

Papa John’s officials have reaffirmed earnings-per-share guidance for the year of between $1.22 and $1.24. Next year’s EPS is projected to range from $1.38 to $1.46. Executives today announced that they have increased their share repurchase program by $25 million, to $525 million. To date, the company has repurchased $494.2 million of its stock.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.