Papa John's Q2 Profit In Line

According to Reuters, “Papa John’s International Inc (PZZA.O) reported an adjusted quarterly profit in line with market expectations and the pizza chain narrowed its fiscal 2010 earnings outlook.”

“Analysts on average were expecting earnings of $1.87 a share, before items, according to Thomson Reuters I/B/E/S. Papa John’s, which competes with Domino’s Pizza Inc (DPZ.N) and Yum Brands Inc’s (YUM.N) Pizza Hut, said it now sees earnings of $1.74 a share to $1.82 a share for 2010, compared with its prior view of $1.72 a share to $1.87 a share. Papa John’s said it expects the current pricing and promotional environment in the pizza category to result in continued restaurant margin pressures for the remainder of 2010.”