Platform CompetitionThe current 'Papa Pairings' platform has proven to be too much of a 'me-too' offering vs. Domino's to stand out on its own.
Sales TrendsSales trends are among the weakest in the restaurant industry, and a number of structural issues like turnover, unit economics, franchise health, and international strategy are likely multi-year efforts.
Same-Store SalesPapa John's posted (3.6%) same-store sales in North America, the weakest results in five years, and well below analyst estimates as transactions receded.