Newly appointed Papa John’s CEO Steve Richie announced recently that the company has reported a drop in sales this year. Yahoo analysts’ expectations where that the company would earn about $394 million, however, Papa John’s would only reach $364 at a loss of 16% from the previous year that netted them $431.7 million in revenue, a considerable loss for the company. These numbers, however, were somewhat expected by the company as they have battled controversy and a change in leadership.
President and CEO Steve Richie on a conference call to executives stated that the company does have very real obstacles that it has to overcome, however, over time the companies image has improved from customer opinion being very negative at the start of the year to a more neutral tone. Steve Ritchie attributes much of this progression to the rebranding of Papa John’s that is more focused on employee and customer relations. Steve Richie has doubled down on this method by introducing the concept of restructuring the management divisions of Papa John’s. This would mean additional positions dedicated to customer touchpoints that would include improving online features, menu strategy and the customer experience overall. The man appointed to lead this charge is industry leader Mike Nettles.
Steve Ritchie Papa John’s stated in the conference call that this move to restructure will be highly effective in implementing their five key focuses. These include reminding customers why they make the claim of “better ingredients, better pizza” as well as making their product more attainable to people. Other segments of this plan include improving technology on their website, Steve states that 60% of their sales are made online, and innovating their current platform will be the key to increase those sales. Lastly, “prioritizing our people” is to Steve Richie one of if not the most important ingredient of their company, creating a safe and respectful work environment is paramount to anything else we do.