Papa John's Closes 300 Stores After Sales Drop and Stock Decline

Papa John's will close 300 underperforming North American restaurants by the end of 2027 after reporting a 5.4% decline in quarterly sales.CEO Todd Penegor and CFO Ravi Thanawala are leading a restructuring that includes cutting 7% of corporate staff and introducing menu improvements like a new pan pizza.The pizza chain faces a 31% stock decline following 2025 revenues of $2.1 billion while competitors like Pizza Hut also announce significant closures.