The stock on Wednesday traded at $130.42, up 0.9% at last check, in a down market. It has surged 35% in the past six months, as consumers continue to enjoy food that they don’t have to cook themselves.
Papa John’s called its restaurant-design and logo change “the next step in the company’s journey to deliver better experiences for its customers and team members.”
Papa John’s said its “new streamlined, flexible environment will provide seamless purchasing and pick-up experiences for customers and empower Papa John’s team members to more efficiently prepare quality food.”
It said, “the new open-floorplan restaurant design blends modern simplicity with the warmth of the experience that invites people to enjoy pizza.”
As for the new logo, it’s “a visual reflection of the new tone being set by the brand – bold, simple, fun and clean,” the company said. The logo features “updated hues of Papa John’s signature red and green color crafted to better distinguish the brand wherever it is seen – both online and in-person.”
Earlier this month, Papa John's reported third-quarter earnings that beat expectations and announced a new share buyback program.
Profit totaled $29.3 million, or 79 cents per share, up from $15.7 million, or 35 cents per share, a year ago.
Adjusted earnings of 83 cents per share topped the FactSet analyst consensus of 71 cents. Revenue rose 8% to $512.8 million, also beating analysts’ forecast of $500.9 million.