LOUISVILLE, Ky. — Papa John's International predicted 2007 will be a solid year for sales, but comparably less exciting than '05 and '06, when it strung together 22 consecutive months of positive same-store sales.
According to a news release, the No. 3 pizza chain expects domestic comparable-store sales to rise between 1.5 percent and 2.5 percent next year, and overall revenues should increase between 5 percent and 7 percent.
The company's net-store-opening goal is between 225 to 250 worldwide (4 percent to 5 percent domestic unit growth and 30 percent to 35 percent international unit growth). Approximately 22 percent of those units will be company owned.
It also predicted international sales will increase 15 percent to 20 percent.
The company said it acquired five franchise units and a commissary in Beijing, China. In the $4.3 million deal, the franchisee returned the initial rights for the development in Beijing and the surrounding region.
"We are very excited about investing in this important market," said Robb Chase, president of Papa John's International. "Owning and operating restaurants and a quality-control center in Beijing will allow us to better understand the China market, better support our franchisees in Asia and allow us to lead by example as we continue to invest and build out this part of the world."
