The Logical Leftist
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Pizza Hut Just Owned Papa John's Over NFL Protest
Posted
November 3, 2017
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November 3, 2017
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"Papa John is blaming NFL player protests for a dip in pizza sales, but Pizza Hut says otherwise.
Such are the extensive ripple effects that an NFL season full of political controversy is having on all sorts of adjacent businesses.
On Wednesday, Papa John’s International reported disappointing third-quarter earnings: its sales rose, but only by 1%—less than analyst expectations. Sales rose 5.5% in the same quarter last year.
CEO John Schnatter said the reason is the NFL. “The NFL has hurt us by not resolving the current debacle to the players’ and owners’ satisfaction… NFL leadership has hurt Papa John’s shareholders,” he said on the earnings call.
But one day later, Greg Creed, CEO of Yum Brands, which owns Pizza Hut, Taco Bell, and KFC, was asked to comment on the claim.
“We’re not seeing any impact from any of that,” Creed said on Yum’s earnings call."
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