Operations

Papa Johns reports Q4, 2025 sales; will close 300 underperforming restaurants

Photo: Papa Johns

February 26, 2026

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Papa Johns posted same-store sales declines of 5% during Q4 2025 in North America. The brand, co-headquartered in Louisville, Kentucky, and Atlanta, Georgia, will also close 300 underperforming restaurants, according to Ravi Thanawala, Papa Johns CFO and North America president during an earnings call Thursday.

Thanawala said the restaurants are more than 10 years old and weigh in at less than $600,000 in sales.

Global system-wide sales were $4.92 billion. That's a 1% increase over 2024.

The brand also reported:

North American sales decreased 2%.
U.S. company-owned stores recorded a 3% sales decrease, while franchised units in North America were down 2%.
Internationally, sales increased 5%.
Papa John's opened 279 restaurants in 2025, including 96 in North America and 183 international units.
Revenues were flat — weighing in at $1.2 billion — compared to 2024.

In the fourth quarter, global system-wide restaurant sales were down 1% at $1.23 billion.

Other reported fourth-quarter earnings included:

Comparable sales decreased 5%.
Company-owned restaurants decreased 6% in North America.
Interntional restaurant sales increased 6%.
The brand opened 143 restaurants in the fourth quarter breaking down to 41 domestic opening and 101 international openings.
Revenues decreased 6% to 498 million compared to the fourth quarter 2024.

A press release with the earnings statement said the brand is re-energized by the launch of its Pan Pizza.

"At the end of January, we launched our Pan Pizza platform," Todd Penegor, CEO of Papa Johns, said during the earnings call. "Following extensive culinary research and development, our teams have crafted an elevated, differentiated Pan Pizza experience using our premium ingredients and featuring our signature sauce, a 6-cheese artisan blend, and a fluffy, soft interior with a crispy garlic parmesan crust.

"Pan Pizza fills an important menu gap for us and raises the bar on a nostalgic type of pizza that we know our customers love. While early, Pan Pizza mix is performing above expectations, and we plan to build momentum off the Pan Pizza launch, driving trial and awareness of this outstanding product. We're also excited to expand Pan Pizza into several priority International markets in the coming months."