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Fly News Breaks for November 22, 2019
PZZA
Nov 22, 2019 | 07:42 EDT
Longbow analyst Alton Stump said his talks with Papa John's franchisees lead him to believe U.S. system-wide same-store sales are up 2.5%-3.0% in Q4 to-date, which he notes is tracking ahead of the consensus forecast for the full quarter. The analyst, who has been told by franchisees that the new Garlic Parmesan Crust has sold "surprisingly well" since its launch in in early November, believes further sequential acceleration in same-stores sales in Q4 would be viewed positively by investors. Stump keeps a Buy rating on Papa John's shares.
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