Restaurateurs are ushering in the New Year with initiatives to boost traffic. Papa John's International Inc. PZZA recently announced a “Buy One Get One” deal. Per the offer, by purchasing any large pizza from Papa John's at the standard price diners will get another large one-topping pizza of equal or lesser value for only 50 cents more.
The company has also launched a dessert – Brookie – for the New Year. Brookie will be made with a rich chocolate brownie and chocolate chip cookie. Further, Papa John's is offering customers the option of combining pizzas with a Brookie for an additional $6.
The deal will be available at all Papa John’s restaurants across the U.S. till Jan 31. The offer will also be available on the Kentucky-based pizza company’s website and mobile ordering app. This will help the company to gain popularity among millennial and counter competition.
Papa John’s has been posting positive comps both on the domestic and international fronts since the beginning of 2014. The company remains well positioned for growth driven by menu innovation, promotional offers and operational efficiency. Apart from the limited time offers, the company continues to test menu items domestically as well as internationally. The company has several items in the pipeline for 2016 that should boost traffic.
Meanwhile, Papa John’s is investing heavily on technology-driven initiatives like digital ordering to boost sales. The company’s online and digital marketing activities have increased significantly over the past several years in response to the increasing use of online and mobile web technology.
Papa John's presently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector are Dave & Buster's Entertainment, Inc. PLAY, Jack in the Box Inc. JACK and Shake Shack Inc. SHAK. All these stocks sport a Zacks Rank #1 (Strong Buy).
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