Papa John’s International, Inc. (NASDAQ:PZZA) stock fell Thursday after the pizza chain posted quarterly results that fell short on sales and signaled continued pressure in its North America business.
Investors focused on softer domestic demand and heavier promotions, even as international markets extended their run of growth.
Quarterly Metrics
The company reported fourth-quarter adjusted earnings per share of 34 cents, in line with the Street view. Quarterly sales of $498.179 million (down 6% year over year) missed the Street view of $515.002 million.
Global systemwide restaurant sales were $1.23 billion, down 1% from the prior-year fourth quarter.
The company said the decline was mainly driven by a $24 million drop at domestic company-owned restaurants, including about $9 million in lower revenue tied to the refranchising of 85 locations now run …