“Papa John’s agrees to open 49 new sites as sales surge…”
September 10, 2020
“The company announced Thursday a deal in which franchisee HB Restaurant Group will open 49 new locations in Philadelphia and southern New Jersey by 2028. It’s one of Papa John’s biggest such deals in two decades. HB Restaurant Group currently owns 43 restaurants in the mid-Atlantic area and has been a Papa John’s franchisee since April 2019.
The pizza chain has seen significant growth over the last few months. In August, it issued a preliminary estimate of North American same-store-sales growth of 24.2% from July 27 through Aug. 23. That followed a preliminary estimate of same-store-sales growth, a key industry metric, of 30.3% in July in the region. In the second quarter, North American same-store sales rose 28%…”
https://www.cnbc.com/2020/09/10/papa-johns-hb-restaurant-group-agree-to-open-49-new-locations-.html