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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
December 27, 1999
PAPA JOHN'S INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter
Delaware 61-1203323
(State or other jurisdiction of (I.R.S. Employer identification
incorporation or organization) number)
2002 Papa John's Boulevard
Louisville, Kentucky 40299-2334
(Address of principal executive offices)
(502) 261-7272
(Registrant's telephone number, including area code)
Item 5. Other Events
On December 27, 1999, Papa John's International, Inc. announced 4Q 1999
comparable sales growth of 1.8%, and Period 12 comparable sales growth of 4.7%,
for company-owned restaurants. In addition, Papa John's announced that during 1Q
2000, Wade Oney will transition from his role as Papa John's Chief Operating
Officer. This summary of the attached press release is qualified in its entirety
by the complete text of such document, a copy of which is attached hereto as
Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits 99.1 Press Release dated December 27, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant had duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
PAPA JOHN'S INTERNATIONAL, INC.
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(Registrant)
Date: December 28, 1999
/s/ E. Drucilla Milby
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E. Drucilla Milby
Senior Vice President,
Chief Financial Officer
and Treasurer
Exhibit Index
Exhibit No.
99.1 Press Release dated December 27, 1999
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Exhibit 99.1
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FOR IMMEDIATE RELEASE
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For more information, contact:
Dru Milby
Chief Financial Officer and Treasurer
Papa John's International, Inc.
(502) 261-4942
Papa John's Announces Period 12 and
Fourth Quarter Comparable Sales Results
Louisville, KY (December 27, 1999)--Papa John's International, Inc. (NASDAQ:
PZZA) today announced that comparable sales at its company-owned restaurants
increased 4.7% for Period 12 and 1.8% for 4Q 1999. As previously announced,
comparable sales at franchised restaurants are expected to increase 2-3% for the
quarter.
The company also announced that beginning with Period 12, comparable sales
information for both company-owned and franchised restaurants will be announced
for each monthly period on or about the 12th day of the following month.
"Providing comparable sales results each period is the most accurate and useful
information we can give to our shareholders and the research analysts who follow
our stock," said Papa John's Chief Financial Officer and Treasurer, Dru Milby.
"While many variables, such as the timing and success of our advertising
initiatives, the timing of holidays and the competitive environment can cause
comps to vary dramatically from period to period, we believe that distributing
actual historical sales information will allow both existing and potential
investors to better evaluate owning stock in our company."
The company also announced that during the first quarter of 2000, Wade Oney will
transition from his role as Papa John's Chief Operating Officer. Oney will
continue as a Papa John's franchisee (operating 30 Papa John's restaurants
principally in Florida), remain a member of both the Papa John's Board of
Directors and Franchise Advisory Council and provide ongoing assistance and
advice to the Papa John's operations team.
Lou DiFazio, who was named Vice President, Operations in October of 1998, will
be responsible for corporate operations, reporting to Papa John's President and
Vice Chairman, Blaine Hurst. The company has not yet determined whether the COO
position will be filled.
"Wade has been, and will continue to be, a valuable part of the Papa John's
team," said Papa John's Founder and CEO John Schnatter. "His operational and
leadership skills have been instrumental in growing Papa John's to more than
2,200 restaurants with the highest per store averages in the pizza business."
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At December 26, 1999, there were 2,278 Papa John's restaurants (571
company-owned and 1,707 franchised) operating in 47 states and five
international markets. Papa John's also owns or franchises 206 Perfect Pizza
restaurants (15 company-owned and 191 franchised) in the United Kingdom. For
more information about the company, visit Papa John's at www.papajohns.com.
