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Wiki Wiki Summary
Papa John's Papa John's International, Inc., d/b/a Papa Johns, is an American pizza restaurant chain. It is the fourth largest pizza delivery restaurant chain in the United States, with headquarters in Louisville, Kentucky and Atlanta, Georgia metropolitan areas.
John Phillips (musician) John Edmund Andrew Phillips (August 30, 1935 – March 18, 2001) was an American singer, songwriter, and guitarist. He was the leader of the vocal group the Mamas & the Papas and remains frequently referred to as Papa John Phillips.
Cardinal Stadium Cardinal Stadium, formerly known as Papa John's Cardinal Stadium, is a football stadium located in Louisville, Kentucky, United States, on the southern end of the campus of the University of Louisville. Debuting in 1998, it serves as the home of the Louisville Cardinals football program.
Robert M. Lynch Robert “Rob” M. Lynch (born 1979) is an American businessman and the current CEO of Papa John's Pizza. He was announced as the successor to founder John Schnatter in August 2019.
Darden Restaurants Darden Restaurants, Inc. is an American multi-brand restaurant operator headquartered in Orlando.
Restaurant A restaurant is a business that prepares and serves food and drinks to customers. Meals are generally served and eaten on the premises, but many restaurants also offer take-out and food delivery services.
Availability In reliability engineering, the term availability has the following meanings:\n\nThe degree to which a system, subsystem or equipment is in a specified operable and committable state at the start of a mission, when the mission is called for at an unknown, i.e. a random, time.
Availability heuristic The availability heuristic, also known as availability bias, is a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision. The availability heuristic operates on the notion that if something can be recalled, it must be important, or at least more important than alternative solutions which are not as readily recalled.
Construction Construction is a general term meaning the art and science to form objects, systems, or organizations, and comes from Latin constructio (from com- "together" and struere "to pile up") and Old French construction. To construct is the verb: the act of building, and the noun is construction: how something is built, the nature of its structure.
Chain store A chain store or retail chain is a retail outlet in which several locations share a brand, central management, and standardized business practices. They have come to dominate the retail and dining markets, and many service categories, in many parts of the world.
Restaurant management Restaurant management is the profession of managing a restaurant. Associate, bachelor, and graduate degree programs are offered in restaurant management by community colleges, junior colleges, and some universities in the United States.
Fast food restaurant A fast food restaurant, also known as a quick service restaurant (QSR) within the industry, is a specific type of restaurant that serves fast food cuisine and has minimal table service. The food served in fast food restaurants is typically part of a "meat-sweet diet", offered from a limited menu, cooked in bulk in advance and kept hot, finished and packaged to order, and usually available for take away, though seating may be provided.
Franchising Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses some or all of its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee.
Franchise Rule The Franchise Rule defines acts or practices that are unfair or deceptive in the franchise industry in the United States. The Franchise Rule is published by the Federal Trade Commission.
Operation Mincemeat Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin.
Special Activities Center The Special Activities Center (SAC) is a division of the Central Intelligence Agency responsible for covert operations and paramilitary operations. The unit was named Special Activities Division (SAD) prior to 2015.
Emergency operations center An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Bitwise operation In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Commodity In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price.
Commodity market A commodity market is a market that trades in the primary economic sector rather than manufactured products, such as cocoa, fruit and sugar. Hard commodities are mined, such as gold and oil.
Labour is not a commodity "Labour is not a commodity" is the principle expressed in the preamble to the International Labour Organization's founding documents. It expresses the view that people should not be treated like inanimate commodities, capital, another mere factor of production, or resources.
List of commodities exchanges A commodities exchange is an exchange, or market, where various commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, and metals).
Soft commodity Soft commodities, or softs, are commodities such as coffee, cocoa, sugar, corn, wheat, soybean, fruit and livestock. The term generally refers to commodities that are grown, rather than mined; the latter (such as oil, copper and gold) are known as hard commodities.Soft commodities play a major part in the futures market.
Commodity exchange A commodities exchange is an exchange, or market, where various commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, and metals).
List of commodity traders Commodity traders are people or companies who speculate and trade in commodities as diverse as metals and spices.
Profit (economics) An economic profit is the difference between the revenue a commercial entity has received from its outputs and the opportunity costs of its inputs. It equals to total revenue minus total cost, including both explicit and implicit costs.
Customer Profitability Analysis Customer Profitability Analysis (in short CPA) is a management accounting and a credit underwriting method, allowing businesses and lenders to determine the profitability of each customer or segments of customers, by attributing profits and costs to each customer separately. CPA can be applied at the individual customer level (more time consuming, but providing a better understanding of business situation) or at the level of customer aggregates / groups (e.g.
Small Is Profitable Small Is Profitable: The Hidden Economic Benefits of Making Electrical Resources the Right Size is a 2002 book by energy analyst Amory Lovins and others. The book describes 207 ways in which the size of "electrical resources"—devices that make, save, or store electricity—affects their economic value.
Additional Mathematics Additional Mathematics is a qualification in mathematics, commonly taken by students in high-school (or GCSE exam takers in the United Kingdom). It is applied to a range of problems set out in a different format and wider content to the standard Mathematics at the same level.
Latin Extended Additional Latin Extended Additional is a Unicode block.\nThe characters in this block are mostly precomposed combinations of Latin letters with one or more general diacritical marks.
Additional director general of police Additional Director General of Police (ADGP) is an Indian Police Service rank. Though having the maximum possible 3-star police rank just like Director General of Police, ADGP's are considered same to DGP's.
Superintendent of police (India) Superintendent of police or SP is a senior rank in Indian Police Service or IPS. Superintendent of Police in Hindi means पुलिस अधीक्षक. They have one Star and one Ashoka emblem on their shoulders and below IPS is written.
Additional secretary to the Government of India Additional Secretary (often abbreviated as AS, GoI or Union Additional Secretary or Additional Secretary to Government of India) is a post and a rank under the Central Staffing Scheme of the Government of India. The authority for creation of this post solely rests with Cabinet of India.Additional secretary is mostly a career civil servant, generally from the Indian Administrative Service, and is a government official of high seniority.
Minimum wage in the United States The minimum wage in the United States is set by U.S. labor law and a range of state and local laws. The first federal minimum wage was instituted in the National Industrial Recovery Act of 1933, signed into law by President Franklin D. Roosevelt, but later found to be unconstitutional.
List of countries by minimum wage This is a list of the official minimum wage rates of the 193 United Nations member states and former members of the United Nations, also including the following territories and states with limited recognition (Northern Cyprus, Kosovo, etc.) and other independent countries. Some countries may have a very complicated minimum wage system; for example, India has more than 1202 minimum wage rates for different types of industries and skill levels.
Risk Factors
PAPA JOHNS INTERNATIONAL INC Item 1A Risk Factors This Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”), including information within Management’s Discussion and Analysis of Financial Condition and Results of Operations
The following cautionary statements are being made pursuant to the provisions of the Act and with the intention of obtaining the benefits of the “safe harbor” provisions of the Act
Although we believe that our expectations are based on reasonable assumptions, actual results may differ materially from those in the forward-looking statements as a result of various factors, including but not limited to, the following: 1
The ability of the Papa John’s system to continue to open new restaurants is affected by a number of factors, many of which are beyond our control
These factors include, among other things, litigation, selection and availability of suitable restaurant locations, increases in or sustained high levels of food, paper, utilities, fuel, employee compensation and benefits, insurance and similar costs, negotiation of suitable lease or financing terms, constraints on permitting and construction of restaurants, higher than anticipated construction costs, and the hiring, training and retention of management and other personnel
Accordingly, there can be no assurance that system-wide, Papa John’s will be able to meet planned growth targets, open restaurants in markets now targeted for expansion, or continue to operate in existing markets profitably
The restaurant industry is intensely competitive with respect to price, service, location and food quality, and there are many well-established competitors with substantially greater financial and other resources than the Papa John’s system
Some of these competitors have been in existence for a substantially longer period than Papa John’s and may be better established in the markets where restaurants operated by us or our franchisees are, or may be, located
Experience has shown that a change in the pricing or other marketing or promotional strategies, including new product and concept developments, of one or more of our major competitors can have an adverse impact on sales and earnings of Papa John’s and our system-wide restaurant operations
An increase in the cost of cheese or other commodities could adversely affect the profitability of our system-wide restaurant operations
Cheese costs, historically representing 35prca to 40prca of our food 12 ______________________________________________________________________ cost, and other commodities are subject to seasonal fluctuations, weather, availability, demand and other factors that are beyond our control
Additionally, sustained increases in fuel and utility costs could adversely affect the profitability of our restaurant and QC Center businesses
Changes in consumer taste (for example, changes in dietary preferences that could cause consumers to avoid pizza in favor of foods that are perceived as more healthful), demographic trends, traffic patterns and the type, number and location of competing restaurants could adversely affect our restaurant business
Health- or disease-related disruptions or consumer concerns about the commodity supply or the Company’s food products could negatively impact the availability and/or cost of commodities and adversely impact restaurant operations and our financial results
System-wide restaurant operations are subject to federal and state laws governing such matters as wages, working conditions, citizenship requirements and overtime
A significant number of hourly personnel employed by our franchisees and us are paid at rates related to the federal minimum wage
Accordingly, further increases in the federal minimum wage or the enactment of additional state or local minimum wage increases above federal wage rates will increase labor costs for our system-wide operations
Additionally, labor shortages in various markets could result in higher required wage rates
Any or all of the factors listed in 1
potentially adversely impacting restaurant sales or costs could be especially harmful to the financial viability of franchisees in under-penetrated or emerging markets
A decline in or failure to improve financial performance for this group of franchisees could lead to unit closings at greater than anticipated levels and therefore impact contributions to marketing funds, our royalty stream, PJFS and support services efficiencies and other system-wide results
Domestically, we are dependent on sole suppliers for our cheese, flour, and thin and pan crust dough products
Alternative sources for these ingredients may not be available on a timely basis to supply these key ingredients or be available on terms as favorable to us as under our current arrangements
Domestic restaurants purchase substantially all food and related products from our QC Centers
Accordingly, both our corporate and franchised restaurants could be harmed by any prolonged disruption in the supply of products from our QC Centers
Domestic franchisees are only required to purchase seasoned sauce and dough from our QC Centers and changes in purchasing practices by domestic franchisees could adversely affect the financial results of our QC Centers
Beginning in October of 2004, a third-party commercial insurance company began providing fully-insured coverage to franchisees participating in our franchise insurance program, thus eliminating our risk of loss for franchise insurance coverage written after September 2004
The Captive’s relatively immature claims history limits the predictive value of estimating the costs of incurred and future claims, thus our operating income is subject to potential significant adjustments for changes in estimated insurance reserves for policies written from the Captive’s inception in October 2000 through September 2004
Our domestic and international operations could be negatively impacted by significant changes in international economic, political and health conditions
In addition, our international operations are subject to additional factors, including compliance with foreign laws, currency regulations and fluctuations, differing business and social cultures and consumer preferences, diverse government 13 ______________________________________________________________________ regulations and structures, availability and cost of land and construction, ability to source high-quality ingredients and other commodities in a cost-effective manner, and differing interpretation of the obligations established in franchise agreements with international franchisees
Accordingly, there can be no assurance that our operations will achieve or maintain profitability or meet planned growth rates