Uh oh, Papa John's CEO lost $70 million one day after trying to blame bad pizza on peaceful protests
When Papa John’s CEO John Schnatter decided to try and throw the NFL and football players’ peaceful protests of racial injustice under the bus for his company’s failing profits, many people, including competing pizzamakers, pointed out that that made zero sense . His attacks on the exclusive deal that Papa John’s has with the NFL could have been explained by decreasing viewership of a sport with all kinds of scandal connected to it, as well as a rapidly growing society of non-cable television watchers. But Mr. Schnatter wanted to stay on his personal brand of being a conservative prick. What does Forbes think of all of this?
The net worth of John Schnatter, founder and CEO of pizza chain Papa John’s, fell $70 million in less than 24 hours after the company released its third-quarter financial report on Tuesday afternoon. The business beat estimates on earnings and revenue, but it lowered guidance on same-store sales for the coming period.
Investors were not pleased with that news and sent shares down 11% through 12:30 pm Eastern Time on Wednesday. The stock is now trading at just over $60 per share.
Oh boy. Hopefully Mr. Schnatter can afford to keep his moat filled— he has a moat on his estate . This isn’t the first time that Papa John has tried to blame his shitty business acumen and practices on the more liberal segments of our society , showing the world that his face isn’t the only thing that seems fake in those commercials.
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Shitty business acumen? Is that what the left calls a businessman with an estimated net worth of over 1 billion dollar? Hilarious!!
I think he will be just fine. Just like "Hobby Lobby" and "Chick-fil-a" somehow survived the left's no so friendly "admonitions" on their actions.
Booger ingredients.
Booger pizza.
Papa Johns.
Lol, good one. I would say it's more like:
Better Whining
Bigger Butt-hurt
Liberal Left
Left wing whining and butt-hurt has gone to infinity and beyond!
And there it is, the insult by a left winger ...... like usual you've got nothing but.
Sure you did ....
“Never argue with stupid people, they will drag you down to their level and then beat you with experience.”
― Mark Twain
Isn't Peyton Manning invested in Papa John's Pizza?
I don't care for papa john's pizza. I think it's the crust but it's been soooooo long since I've had any that I really don't recall what the turn off was.
I think the problem is he hasn't really changed his business plan for so long. He's been riding on the NFL band wagon for so long that I think he got lazy. He won the lottery when he became the pizza of NFL but he didn't really do anything different to keep his customers. At least, that's my impression as a consumer.
This assertion that it's because of NFL player protests falls flat. There are some issues businesses shouldn't weigh in on to avoid a backlash. I'm going to go out on a limb and say race relations is probably one of those issues.
From what i know I agree completely which makes one wonder why he said what he said.
Good question. It's clear that he was hoping to assuage his stakeholders knowing that his 3rd quarter report was not going to go over well. I wonder whether he's remained active in the day to day running or whether he's been disengaged.
Who knows, lots of money in pizza ( Monaghan, Illich, etc) but it is a pretty cutthroat business.
Sounds like he should stay out of the day to day. Comments like that don't help and they can automatically give your competitors an edge on you. Pizza hut jumped right on it that's for sure.
Who knows how it's affected their business, good or bad but saying it hasn't just helps them and hurts Papa Johns.
Agreed. There's always a way of making a statement without alienating a group. Personally I'm tired of businesses, celebrities and the like weighing in on controversial issues that have been shoved into the political arena. I really don't care what Papa John's thinks and I really don't care what John Stewart thinks. Just make me a damn good pizza and make me laugh. I can create my own drama.
Manning knows it's the pot fueling the pizza boom.
Peyton Manning credits legal Colorado pot with booming Papa John's pizza business
Well.....whatever works. You may be on to something. The best way to stay on top is to know your customer.
LOL Evidently NFL potheads fans like pizza. And NFL alcoholic fans like wings.
who would have guessed ?
smart ass..... lol
As I stated in the previously posted Papa Johns seed, I never pass up an opportunity to share why I will never order Papa Johns again, since the incident 11 years ago:
I order two pizzas for pick up, since I was just outside of their delivery area. After arriving back home, I saw something strange in the middle of one of them. It was a big ball of human hair baked into the cheese, as if someone just swept it up from under oven and threw it on the pizza. I drove all the way back to show them, since nobody would believe something so gross over the phone. They didn't even offer me a refund or anything to compensate me for my troubles, just made me another one. After that experience, I decided not to complain or else they might something worse to the new one. I figured the best way to get justice is to spread that story as far and wide as possible, which I continue to do to this day. It wasn't until years later that I found out what a douchebag this guy is politically.
Never ate a Pappa John's pizza in my life. But, why all the fuss over the pizza? Is it because the company claims they lost money because of the NFL's protest? And, a lot of you support the protest? If you don't like the pizza, don't eat it.
If you don't like the pizza, don't eat it.
Similarly, if you don't like/understand the article, don't comment.
Similarly if you don't like/understand that she didn't like the comment, don't comment ...... see how that works?
Similarly if you don't like/understand my comment, don't comment ...... see how that works? This is fun! Your turn.
first they came for the cake, then they came for the chicken and pizza....hide the tacos
In Buffalo, NY (WNY) there are so many locally owned pizzerias that all but one Papa Johns that opened are all now closed.
We have excellent pizzerias and don't forget the birth place of chicken wings and beef on weck.
John can go piss up a drain pipe, make a lousy product, screw your employees and that's what you get. Wish this idiot would just go away and take his lousy pizza with him.