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Papa Murphy’s 1Q net income plunges 75%

Company says it is taking action in specific areas, including technology

Papa Murphy’s Holdings Inc. said Wednesday that same-store sales fell 2.8 percent at both franchised and company-owned locations in the first quarter ended March 28.

Net income fell 75 percent, to $642,000, or 4 cents per share, from $2.6 million, or 16 cents per share, in the same period a year ago.

“We are disappointed with our overall comparable-store sales performance in the first quarter and the resultant level of profitability,” Papa Murphy’s

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