Papa John’s revenue climbs 2% in 2022

The growth was attributed to increasing in North American commissary revenues.

Papa John’s reported a total revenue of $2.1b for the year ended 25 December 2022 (FY2022), an increase of 2% compared to the same period in the prior year.

The global pizza chain said the growth was mainly due to a 14.2% increase in North American commissary revenues, as well as a 4.5% increase in system-wide units and positive comparable sales for the year. However, growth was offset by lower global revenues.

North America comparable sales were up 1% for FY2022 compared to the year before and up 30% on a three-year stack. Meanwhile, international comparable sales were down 5% from a year ago and up 20% on a three-year stack. 

Global system-wide restaurant sales were $4.84b, a 3% increase over the prior year.

“Looking ahead to 2023, we will continue to grow on top of the solid foundation we have built over the past three years as we deliver on our strategic priorities and build the world’s best pizza company. Investments in product and digital innovation, combined with strong operational excellence, will continue to enhance the customer experience and contribute to healthy North America comparable sales and unit economics. Our differentiated brand positioning, winning product innovation and operational excellence will continue to deliver strong unit development and system-wide sales growth globally,” Rob Lynch, Papa Johns’s President and CEO said.