"The NFL has hurt us by not resolving the current debacle to the players' and owners' satisfaction". Trump has urged his millions of supporters to boycott the National Football League until Goodell mandates all players stand for the anthem.
Whatever the reasons for it, the punishment was swift-Papa John's shares fell 8.5% yesterday (Nov. 1), closing at $62.26.
Papa John's president and chief operating officer, Steve Ritchie, said the National Football League deal was the main reason behind the company's decline in sales. But instead of commenting on whether to take a knee, he said the situation is hurting pizza sales.
Tesla lower after updating on Model 3 production
FILE PHOTO: A Tesla charging station is seen in Salt Lake City, Utah, U.S. on September 28, 2017. Tesla expects to hit a Model 3 production rate of 5,000 vehicles per week by late Q1 2018.
And Schnatter, who donated to Trump's election campaign, said the dispute should have been "nipped in the bud" when the protest first began.
The relationship started in 2004, when Papa John's became the official pizza of the Cowboys, and in turn Jones acquired 49-percent interest in 71 Papa John's stores. The NFL has lost fan support, jeopardized advertisers and spent the season getting blitzed by the media.
Schnatter came under fire in 2012 for saying that the Affordable Care Act could be "lose-lose" for Papa John's franchisees and employees.
The NFL declined to comment on Schnatter's comments and sponsors' pressure to end the protests.
"We're not seeing impact on any of that on our business", Greg Creed, CEO of Pizza Hut's parent company Yum Brands, said in a call with investors on Thursday. Yum Brands posted third-quarter earnings and revenue that beat analyst forecasts, due in part to Pizza Hut's improved performance. In comparison, sales were up 5.5% at the same time past year. The prompt for the criticism: constraint on pizza demand that held the company's sales growth to 1% at North American locations open at least a year, versus the 1.4% expected by Wall Street.