Papa John’s More Profitable as More People Visit

According to Business Week, “Papa John’s International Inc. said Wednesday that more people walked through the doors of its U.S. restaurants in the fourth quarter, helping its net income edge up 2 percent even as it offered discounts to compete with other chains.”

“The Louisville, Ky., company maintained its 2011 earnings forecast, and its shares rose 47 cents to $28.94 in afternoon trading. Papa John’s earned $14 million, or 55 cents per share, compared with $13.7 million, or 49 cents per share, a year earlier. Excluding the benefit of consolidating franchisee-owned cheese-buying company BIBP Commodities Inc., it earned 51 cents per share. Analysts surveyed by FactSet on average were expecting Papa John’s to report adjusted earnings of 49 cents per share.”