- Papa John’s International Inc PZZA, in partnership with its franchise partner PJ Western Group, announced its expansion into Germany.
- Papa John’s plans to open 250 restaurants in the German market over the next seven years.
- PJ Western Group has opened the first seven Papa John’s in Magdeburg and Leipzig and plans to open another six stores in Halle and Merseburg by the end of the summer.
- “This expansion into Germany follows a record year of sales and growth that has positioned Papa John’s to further accelerate development in international markets,” said Papa John’s CEO Jack Swaysland.
- Papa John’s is currently in 50 international countries.
- Stephens maintained an Overweight rating on Papa John’s with a price target of $115.
- Price action: PZZA shares closed higher by 0.19 at $104.65 on Tuesday.
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