Papa Johns 1999 Annual Report Download - page 32

Download and view the complete annual report

Please find page 32 of the 1999 Papa Johns annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 79

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79

Year Ended
Dec. 26, Dec. 27, Dec. 28,
1999 1998 (1) 1997(1)
Restaurant Data:
Percentage increase in comparable Company-owned
restaurant sales (6) 3.5% 9.0% 9.3%
Number of Company-owned restaurants included in the
respective years’most recent comparable restaurant base 492 407 278
Average sales for Company-owned restaurants included in
the respective years’most recent comparable restaurant base $ 754,000 $ 750,000 $ 717,000
Papa John’s Restaurant Progression:
Number of Company-owned restaurants:
Beginning of period 514 427 318
Opened 36 70 87
Closed (1) (1) (1)
Acquired from franchisees 28 21 23
Sold to franchisees (6) (3) -
Restated (7) 2 - -
End of period 573 514 427
Number of U.S. franchised restaurants:
Beginning of period 1,365 1,090 842
Opened 345 296 277
Closed (8) (3) (6)
Sold to Company (28) (21) (23)
Acquired from Company 6 3 -
Restated (7) 1 - -
End of period 1,681 1,365 1,090
Number of international franchised restaurants:
Beginning of period 6 - -
Opened 20 6 -
End of period 26 6 -
Total restaurants — end of period 2,280 1,885 1,517
Perfect Pizza Restaurant Progression: Company-owned Franchised Total
Number of restaurants at November 29, 1999 date of acquisition 15 190 205
Opened -11
Sold to franchisees (3) 3 -
End of period 12 194 206
(1) Restated for the March 1999 acquisition of Minnesota Pizza (see “Note 3”of “Notes to Consolidated Financial Statements”).
(2) As a percentage of Restaurant sales.
(3) As a percentage of Commissary sales and Equipment and other sales on a combined basis.
(4) The 1998 operating results reflect the adoption of an accounting standard related to the costs of start-up activities (see “Note 2”of “Notes to Consolidated Financial
Statements”) which impacts the amount of depreciation and amortization, general and administrative expenses, and pre-opening and other general expenses reflected above.
(5) Represents estimated 1999 costs related to complying with the Court’s order in the Pizza Hut litigation (see “Note 14”of “Notes to Consolidated Financial Statements”).
(6) Includes only Company-owned restaurants open throughout the periods being compared.
(7) Non-traditional units previously opened but not included in restaurant progression.
30