Papa John’s International’s revenue declined last year, reflecting lower comparable sales in both its domestic and international restaurant segments.

The restaurant chain’s revenue slid 4 per cent to $2.06 billion as company-owned restaurant revenue fell by $20 million.

North American comparable sales dropped 4 per cent while international comparable sales decreased 1 per cent. Global system-wide restaurant sales dipped 3 per cent to $4.85 billion.

The results also include a $12.9 million decrease in other revenues, primarily related to the company’s former wholly-owned and print promotions company Preferred Marketing, which was sold in the fourth quarter of 2023. Commissary revenue declined $4.7 million.

Meanwhile, the company’s attributable net income increased 1.5 per cent to $83.3 million.

During the period, the company opened 124 net new restaurants composed of 112 gross openings in North America and 198 gross openings in international markets.

“We have defined our strategic priorities to take market share as we move forward with urgency to execute on initiatives to drive sales momentum in the near-term while meaningfully increasing profitability over time,” said Todd Penegor, Papa John’s Pizza president and CEO.

“We are confident that we have the right plan in place to deliver on our promise to be the best pizza makers in the business.”

For the current year, the company forecasts system-wide sales to grow between 2 per cent and 5 per cent.

It also estimates North American and international comparable sales growth to be from flat to up to 2 per cent.

The company anticipates 85 to 115 gross openings in North America and 180 to 200 gross openings in international markets.