Despite recent quarterly earnings reports indicating a slight downslide in sales revenue and price per share, Papa John’s International CEO Steve Richie is confident that the company is regaining trust with its customer base. Although the road to recovery will be long and and rough, he admits confidence in the company’s ability to bounce back through measurable objectives for organizational improvement. Opportunities ahead present even more chances to apply measures of transparency. The company is reaping the rewards in the early stages of its initiatives due to Ritchie and team understanding how to address the “inheritance tax” leftover from previous leadership. The focus on first rebranding internally is doing much to relieve the looming challenges, but is a mere stepping stone compared to what lies ahead.
Steve Ritchie Papa Johns confirms that employee engagement has allowed the company to rebuild trust faster than anticipated. As leadership becomes more open and proactive about making actual progress, the higher customer sentiment rises. The company is so focused on customer retention, that it recently underwent a complete restructuring of its executive board; creating new vice president positions with concentrations on analytics, user experience, strategy, and brand innovation.
Steve Ritchie is convinced that the restructuring played a central role in keeping the Papa John’s image aligned with its new mission- a set of five key goals necessary to the pizza giant’s future.
As mentioned on Biz Journals, share prices have made several small gains in since plummeting in late summer, 2018. Papa John’s third-quarter missed expectations by several points; with overall revenue down by 16% since earlier quarters, and same store sales down by almost 10%.
Even in the face of decreasing international comparable sales, management continues to handle the situation with care. Steve Ritchie, Mike Nettles, and CFO Joe Smith are taking steps to protect employees and its reputation in the marketplace.
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