Steve Ritchie, the Chief Executive Officer of Papa John’s, recently commented on the fact that the company still needs to put in more work before winning back the trust of their customers, but he also expressed optimism and noted that the company is on its way to recovery. Ritchie became the company’s CEO back in January, and pointed out that the Papa John’s plan to rebrand itself and focus on its employees is having a positive impact on customer sentiment just as he hoped.
Despite the fact that the third-quarter earning report showed declining same-store sales, revenue as well as earnings per share, Steve Ritchie indicated during a conference call that the company is seeing early signs that their measures are working and that they are optimistic about the opportunities to come. He acknowledged the fact that Papa John’s is still facing challenges and that more work needs to be done, but he also mentioned that progress is being made and that the company took important steps during the quarter. When talking about the forth quarter, Steve Ritchie noted that the company’s stabilizing comparable sales, the improved consumer sentiment, the outspoken support internally and externally and Papa John’s continued strong cash flows supports the company’s confidence.
Ritchie also expressed the fact that the company is committed to building on the momentum they have and move forward to greater success. As a result of the company’s “Voices” campaign that was launched in September, Ritchie noted that data from a number of research firms shows that customers’ perception of the company is starting to shift, and that the company is pleased with the progress and with the fact that they took quick action to rebuild themselves.
Also during the conference call, Steve Ritchie Papa Johns mentioned that he believes the company’s restructuring of its executive suite will help them get back to focusing on customers. The restructuring is being led by Mike nettles, an industry veteran, and Papa John’s new EVP and Chief Operating and Growth Officer. Papa John’s also created 4 new Vice President roles related to analytics, menu strategic, innovation and branding, and customer experience.