Papa Johns Cuts 300 Stores, Wendy's Follows Suit

0:00From Tampa Bay, this is your March 3rd update. Papa John's just announced plans to close around 300 restaurants across North America. This is one of the biggest downsizing in the company's history, revealed during their fourth quarter earnings call. These spots are mostly franchise owned, over 10 years old, and pulling in less than $600,000 a year on average. They fall short of brand goals and show no real path to turning things around financially. Officers at the company note that the vast majority of their locations have done well over time, delivering solid returns for owners. Shutting these down lets them shift customers to stronger nearby stores. The closures will ramp up, with about 200 expected this year, and the rest wrapped up by the end of 2027. They have not named the hardest hit cities yet. Meanwhile, Wendy's made a similar call last month, planning to shut her hundreds of US spots too. They aim to sharpen their value menu after same store sales dropped 11.3% in the latest quarter. This episode is brought to you in partnership with our sponsor.

1:03When you want calm, do not reach for your phone. Lay back and listen, SOLI, solelypillow.com. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .