Papa John’s International Inc. is on the mend. Company CEO Steve Ritchie said there are indications improvement measures are working in a recent conference call. Even though they are now optimistic about the future, Steve Ritchie acknowledges that there is more work to do. The company has to increase its efforts to win back customer’s trust.
The report of Papa John’s third-quarter earnings shows declining earnings per share, same-store sales, and overall revenue. Stevie Ritchie says they took necessary measures in the quarter and there is progress. They continue to work to tackle the challenges still faced by the company. Having stepped into the role of the Louisville-based company in January, Stevie Ritchie is positive about the company focus on employees and rebranding. This focus has brought about positive consumer sentiments.
Several research firms have provided data indicating a shift in customer perception. Consumers are now viewing Papa Jones neutrally or even positively. Steve Ritchie Papa John’s gives credit to the company’s “Voices” campaign for the latest developments. The campaign launched in September as a quick action to build progress.
In the third quarter, Papa John’s posted a $364 million revenue. Earnings per share stood at 20 cents, while there was a 10% increase in international sales. International sales are increasing due to the company’s new 300 stores.
Papa John’s brought in industry veteran Mike Nettles to lead their new restructuring process. He is now the vice president, plus the chief growth/ operating officer. As part of the restructuring, the company created four vice-president roles. The roles will focus on customer/ interaction touch-points. These touch points are menu strategy, customer experience, analytics/ technology, and innovation/ branding. According to Ritchie, restructuring the company’s key to focal improvement areas:
- Different messaging- Emphasizing Papa John’s unique story and delivering it to a greater audience.
- Accessible value- A lower price point that avails mouth-watering Pizza to everyone.
- Technological improvements- Advancements in the restaurant and customer-facing technology.
- Prioritizing employees- Investing to attract and retain the best.
Stevie Ritchie (@stevemritchie) is optimistic about the coming fourth quarter. He says as much as they face challenges, the improvements are working. Currently, the company is experiencing better customer sentiment, strong cash flows, and positive external/ internal outspoken support.