Additionally, its $242.1 million in revenues were an increase of 5.3%, while net income was $10.9 million, up from last year's Q2 loss of $2.6 million. Company executives are predicting that same-store sales for the entire year will jump from between 4% and 6% from 2005's numbers.
During it quarter, Papa John's opened 55 restaurants, including one company-owned domestic store, 52 franchised US units and two franchised UK restaurants in the Perfect Pizza chain. The company currently operates 571 company-owned and 2,304 franchised units in 49 states and 19 countries, as well as 114 UK Perfect Pizza restaurants.
Executives say that there are 800 additional Papa John's in the pipeline. Specifically, the company would like to strengthen its presence in the Western US, says Nigel Travis, Papa John's president and CEO
The company is also looking at expanding its presence abroad in China, India, Mexico, South Korea and the United Kingdom, Travis says. "International, to me, has great opportunities," he says. "The key, market by market, is getting to a critical mass."
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