Papa John's North America comparable sales decline smaller-than-expected

(Reuters) – Papa John’s International Inc (PZZA.O) on Tuesday reported a smaller-than-expected decline in quarterly comparable sales in North America, helped by a new advertisement campaign and rebranding efforts amid an ongoing dust-up with its founder John Schnatter.

Comparable sales in North America, which includes sales at franchise and company-owned restaurants for at least a year, fell 9.8 percent in the third quarter ended Sept. 30. Analysts on average had expected a 10.9 percent fall, according to IBES data by Refinitiv.

Revenue fell 15.7 percent to $364.01 million, missing Wall Street estimates of $393.7 million.

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