Papa John's said Wednesday that the company will invest an additional $80 million in its domestic franchisees and marketing, as the pizza chain's struggles put pressure on its operators.
Papa John's said that it would invest an additional $80 million in financial assistance for domestic franchisees and marketing efforts.
The financial assistance agreement between the company and U.S. franchisees, which will begin in the fiscal third quarter of 2019 and end in 2020, has the support of Papa John's elected franchisee group. Papa John's has faced trouble since the company's founder John Schnatter blamed lackluster sales on the National Football League's leadership in November 2017. Sales took a nosedive, though, after a public relations crisis that ensued after it was reported nearly a year ago that Schnatter used the n-word on a conference call. Revenue fell 11.8% to $1.6 billion in 2018 compared to the previous year.
and as its first African American board member. The three-year endorsement deal will net him $8.25 million, paid half in cash and half in Papa John's stock. O'Neal has also invested in nine company-owned Papa John's stores in the Atlanta area.
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