Papa John’s International (PZZA) Piper Sandler 5th Annual Growth Frontiers Conference summary

Value perception and transformation progress

• Implemented a barbell pricing strategy and revamped loyalty program to improve value perception and sales, especially through national promotions and local co-ops.

• Reestablished co-ops in 50% of markets, incentivizing local marketing spend and achieving a 200 basis point sales delta in co-op markets.

• Ongoing focus on elevating food quality and digital experience to deliver consistent value and quality.

• Investments of up to $35 million annually through 2027 support marketing, technology, and franchisee margin initiatives.

• Transformation plan aims for unified national and local marketing, with further co-op expansion targeted by end of year.

Strategic partnerships and channel innovation

• Launched a partnership with Walmart Express Delivery, becoming their first off-premise restaurant brand, with pilots in late 2026 and broader impact expected in 2027.

• Walmart partnership offers delivery at restaurant-equivalent pricing, expanding reach to new customer segments.

• Adjusting third-party aggregator strategy to optimize promotions by daypart and region, leveraging data and co-op coordination.

• Carryout represents 50% of orders and 40% of sales; ongoing asset refresh and remodel incentives aim to enhance customer experience.

Operational excellence and franchise support

• Addressing a 400 basis point performance gap between top and bottom operators by reorganizing field teams and introducing brand standard coaches.

• Increased training, mystery shops, and operational support to raise consistency and quality across all locations.

• Franchise community engagement is central, with joint capital plans and incentives to drive local marketing and operational improvements.