Papa John's on a Quality Quest as its Shares Stall -- WSJ

By Heather Haddon

Papa John's has yet to reverse its sales swoon. CEO Todd Penegor thinks the process starts with boosting the quality of the company's pizzas.

At an investor event Wednesday Penegor said the pizza chain's turnaround is taking longer than he would have liked, with U.S. same-store sales declining for several consecutive quarters. The company's stock has slumped 48% so far this year.

Penegor said the company is focused on improving its perception among consumers of being a good deal for the money. The company also wants to improve the operations of its restaurants, including how dough is handled on equipment used to speed up crust making. The sweetness of its sauce, the melting of its cheese and how toppings are showcased are also under review, he said.

"We're going to go back and look at everything," Penegor said.

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September 16, 2026 11:16 ET (15:16 GMT)