Papa John’s shuts 6 shops with no warning

A similar sentiment was echoed by Salvatore Rizzo , of Troy, who worked in Latham and was previously a general manager at the Halfmoon Papa John’s. Rizzo will report to Air Force basic training at Laughlin Air Force Base outside San Antonio, Texas, on Sept. 3. “This has to be horrible for people with families,” said Rizzo, 21, who lived with his brother in Troy. “I’m leaving soon, and it’s not the end of the world for me. I’ll find something to pay the bills until I leave.” Rizzo also was stunned by the closure. “There was no indication. We all thought it was going to be another workday Saturday until we got the call,” he said.
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Papa John’s CEO apologizes to Florida customer for employee’s racist rant

STORY HIGHLIGHTS Minhee Cho’s receipt goes viral online after she posts it on Twitter “just FYI my name isn’t ‘lady chinky eyes,'” Cho tweets “This act goes against our company values,” Papa John’s says Cho wants the controversy “to blow over,” her employer says (CNN) — Papa John’s Pizza fired a cashier at one of its New York restaurants and apologized to an Asian-American customer for a receipt that identified her as “lady chinky eyes.” “We were extremely concerned to learn of the receipt issued in New York,” the company said in a statement posted on its Facebook page Saturday. Minhee Cho, a communications manager at nonprofit investigative journalism group ProPublica, posted a photo of the receipt on her Twitter account Saturday morning and by the afternoon it was picked up by a local newspaper. Along with the receipt, Cho tweeted “just FYI my name isn’t ‘lady chinky eyes.'” The receipt had been viewed online almost 200,000 times by Sunday afternoon, according to the counter on the Twitpic page. Cho did not immediately respond to CNN’s request for comment, but her boss did. “This blew up far beyond Minhee’s expectations,” ProPublica spokesman Mike Webb said in an e-mail. “She has reporters coming to her apartment, and that’s annoying. So she wants it to blow over and she has nothing more to say.” Cho was a customer Friday night at the Papa John’s on Broadway in Manhattan’s Hamilton Heights neighborhood, according to the receipt. “This act goes against our company values, and we’ve confirmed with the franchisee that this matter was addressed immediately and that the employee is being terminated,” the pizza company said. “We are truly sorry for this customer’s experience.”
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Papa John’s apologizes for receipt’s racial slur

Separately, analysts at Feltl & Co. raised their price target on shares of Papa Johns International from $53.00 to $64.00 in a research note to investors on Wednesday, May 8th. They now have a hold rating on the stock. Papa Johns International ( NASDAQ:PZZA ) opened at 66.86 on Thursday. Papa Johns International has a 1-year low of $46.42 and a 1-year high of $69.97. The stocks 50-day moving average is currently $67.01. The company has a market cap of $1.457 billion and a price-to-earnings ratio of 24.47. Papa Johns International (NASDAQ:PZZA) last released its earnings data on Tuesday, May 7th. The company reported $0.84 earnings per share for the quarter, beating the analysts consensus estimate of $0.81 by $0.03. The company had revenue of $355.60 million for the quarter, compared to the consensus estimate of $364.34 million. During the same quarter last year, the company posted $0.69 earnings per share.
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KeyBanc Downgrades Papa John’s (PZZA) to Hold

Then the customer plays the roughly four-minute message. “I guess that’s the only requirement for being a (n-word) in Sanford,” the driver told a colleague. “… Yeah, they give me five bucks there — fine outstanding African-American gentleman of the community.” The driver’s colleague can be heard laughing. During the message, the delivery man can be heard singing the racial slur repeatedly. The video went viral, generating an outcry on social media. Papa John’s CEO John Schnatter took to social media, posting an apology on Facebook and Twitter for “the reprehensible language used by two former employees.” “Their thinking and actions defy both my personal and the company’s values and everything for which this company stands. The employees responsible for this absolutely unacceptable behavior were immediately terminated,” Schnatter wrote on Monday. “My heartfelt apology goes out to the customer involved, his family, and our community at large. I am very sorry that anyone would be exposed to these hurtful and painful words by any person involved in any way with our company.” Schnatter said he also personally reached out to the customer to “share my own thoughts and offer my deepest apology.” The incident came as Sanford remains in the national spotlight because of the 2012 shooting death of an unarmed black teenager.
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Papa John’s International Rating Lowered to Hold at KeyCorp (PZZA)

E-mail Address Join SI Premium FREE KeyBanc downgraded Papa John’s (NASDAQ: PZZA ) from Buy to Hold. The downgrade relates to valuation. Analyst Chris O’Cull said, “with shares trading near the higher bound of its historical multiple range, necessary upside to estimates does not currently appear visible enough, in our view, to justify meaningful share price appreciation. We reduce our estimates to reflect higher commodities costs (namely cheese) and start-up costs associated with the Company’s international investment For the 2Q, we estimate EPS of $0.65 vs. FC $0.70.” For an analyst ratings summary and ratings history on Papa John\’s click here . For more ratings news on Papa John\’s click here . 
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