Papa John's considers ending National Football League sponsorship

Papa John's considers ending National Football League sponsorship

Papa John's is reevaluating its NFL sponsorship after controversy involving players' protests during the national anthem engulfed the chain. During the same quarter in the prior year, the business posted $0.57 EPS. equities research analysts expect that Papa John's global will post 2.73 earnings per share for the current year. But that's how progressives are demonstrating their displeasure with Papa John's founder/CEO John Schnatter, after he decided that it is the NFL's "poor leadership" that has led to a decline in pizza sales.

Schnatter, whose pizza chain is located in Louisville, claims the NFL's "take a knee" controversy cost his chain $70 million.

Former quarterback with the San Francisco 49ers Colin Kaepernick beginning knelling during the playing of the national anthem last season to protest police brutality and racial injustice. And there may be other issues in play: More people are cooking at home, and Papa John's may have been too dependent on TV ads at a time when more people are spending time online. The first to seize on the comments were competitors Yum Brand's Pizza Hut unit and Dominoes.

Schnatter is now re-evaluating the relationship between his company and the NFL.

After a tweet by President Donald Trump late in September that players who kneel were disrespecting the flag and country, many supporters of his began canceling TV bundles with National Football League games and burning merchandise.

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"This should have been nipped in the bud a year and a half ago", Schnatter said as part of a prepared statement.

Commissioner Roger Goodell and several owners said at the league's fall meetings last month that they did not discuss altering the anthem policy language from "should stand" to "must stand". In fact, Pizza Hut's CEO says it benefits from the live sporting events. Brands, the umbrella corporation for Pizza Hut, as well as chains such as Taco Bell and KFC.

Pizza Hut has also been working to up its delivery game and catch up with the more tech-savvy Domino's Pizza Inc., which makes it easy for customers to order pizza pies through apps, social media posts or even text messages.

Who is one of the largest owners of Papa John's franchises? In the same period a year ago, sales rose 5.5 percent at established locations. BTIG Research reiterated a "buy" rating and set a $100.00 price objective on shares of Papa John's global in a research report on Tuesday, August 29th. Like many sponsors, we're in touch with the NFL.

Another Papa John's executive, chief operating officer Steve Ritchie, made the case Wednesday that as the official pizza company of the NFL, its fortunes are tied to the league.

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