After a third-quarter profits report, the President and CEO of Papa John International Steve Ritchie admitted that the firm has a lot of work to do to win back the trust of its customers. The report showed deteriorating same-stores revenue, sales, and profits per share. According to Ritchie, the beaten corporation is on its way to recovery since there are indications that the improvement procedures put in place are working and he is optimistic about the future.
Speaking recently to Louisville Business First on a phone call, Steve Ritchie who took over the leadership of the Louisville-based company in January said that they were still facing a couple of challenges and were well aware that they should put a lot of effort. He noted that the move of the firm to focus on its human resource and change the corporate image appears to have some positive effect on consumer response as he anticipated. He added that several research agencies showed that the perception of customers towards Papa John’s was shifting more positively after the Voices campaign launch in September 2018.
Papa John’s recorded in $364 million revenue, which was down by 16% when compared to last year’s revenue of $431.7 million. According to Steve Ritchie, the current restructuring of the management will assist the Louisville-based company to focus more on customer satisfaction. Mike Nettles, a famous industry expert is spearheading the restructuring process taking the position of chief growth and operating officer as well as the executive vice president. The giant pizza corporation formed four new roles of the vice president. These roles were created around customer interaction aspects which include: branding and innovation, technology and analytics, menu strategy and customer experience.
Steve Ritchie Papa John’s also said in the call that he firmly believes that this restructuring will assist the company to focus on the five key initiatives, which he stated at the beginning of the year. He also said that irrespective of the challenges the company was facing they were seeing some indications that their improvement measures were working pretty well. The determined CEO also stated that they were optimistic about the fourth quarter and the management was committed to build the momentum and steer the firm forward to greater heights.