Papa John's 1Q profit muted by high cheese prices

Papa John's 1Q profit muted by high cheese prices

Net income flat despite 9.6% gain in domestic same-store sales

Commodity inflation ate into profit growth for Louisville, Ky.-based Papa John’s International Inc. in the March 30-ended first quarter. Though the operator or franchisor of Papa John’s Pizza grew same-store sales 9.6 percent in North America and 6.4 percent in its international division, its $19.3 million net income was essentially unchanged from its profit in the first quarter of 2013. During the most recent period, the market price for cheese, the brand’s biggest commodit

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