Papa John's Withdraws FY20 Outlook Amid COVID-19 Outbreak - Quick Facts

(RTTNews) - Providing a business update in response to the global coronavirus outbreak, Papa John's International, Inc. (PZZA) announced Tuesday that it is withdrawing its previously provided financial outlook for fiscal 2020, amid the uncertainties related to the coronavirus (COVID-19) pandemic and out of an abundance of caution. It also currently anticipates announcing its first quarter earnings in early May.

The company also provided preliminary estimated comparable sales information for the first quarter of fiscal 2020.

Comparable sales at its system-wide North America restaurant grew 5.3 percent in the first quarter, with domestic company-owned restaurants growing 6.1 percent and North America franchised restaurants increasing 5.1 percent. Comparable sales at system-wide international restaurants also rose 2.3 percent.

The company said although March sales in North America were negatively impacted by the cancellation of large gatherings, including major sporting events, its international and domestic businesses has performed well.

Further, the company said it implemented extra health and safety measures across its business, including No Contact Delivery, for the protection of both customers and team members.

The company has also expanded its benefits to include free virtual doctor visits, in addition to existing benefits of no-cost mental health support, affordable health plan options and access to the Papa John's Team Member Emergency Relief Fund, if and when needed. It has also ramped up hiring to provide thousands of jobs to workers displaced by the impact of COVID-19.