Yahoo Finance Papa John's (PZZA) Loyalty Program on a Roll, Reaches 20M Members
Papa John's International, Inc.’s PZZA customer loyalty program — Papa Rewards — has reached 20 million members. Notably, the company benefited from higher transaction sizes along with better targeting of offers and promotions.
The company’s loyalty program, which started in 2010, has witnessed robust growth since early 2020, with more than 100 thousand customers joining the program every week. Two years ago, the company had 12 million members. The company’s loyalty program helps in generating repeat sales and engagement with customers at high frequency.
Following revamped earnings restructure in 2018, customers get one point for every dollar they spend online or in-store. Anne Fischer, SVP of customer experience at Papa John’s, said, “Papa Rewards is just one of the key examples of touch points aimed at providing key customer value. Customers can also enjoy seamless digital navigation through our app and the ongoing menu offerings that showcase our quality ingredients, such as our new Parmesan Crusted Papadias.”
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Price Performance
Shares of the company have gained 24.2% year to date, compared with the industry’s rally of 11.9%.
Papa John’s is investing heavily in technology-driven initiatives like digital ordering to boost sales. The company’s online and digital marketing activities have increased significantly in the past several years in response to increasing utilization of online and mobile web technology. In fact, it is committed toward providing better customer experience with enhancements to digital ordering process.
Moreover, Papa John’s continues to impress investor with robust comparable sales growth. The company recorded positive comparable sales growth in first-quarter fiscal 2021, which marks the fifth straight quarter of comps growth. Notably, the company gained from initiatives revolving around menu innovation, operational efficiencies and cost-saving efforts.
Zacks Rank & Other Key Picks
Papa John’s carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the same space include Chuy's Holdings, Inc. CHUY, Dine Brands Global, Inc. DIN and El Pollo Loco Holdings, Inc. LOCO. Chuy's Holdings sports a Zacks Rank #1 (Strong Buy), while Potbelly and Dine Brands carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chuy's Holdings has a trailing four-quarter earnings surprise of 127.6%, on average.
Dine Brands’ 2021 earnings are expected to surge 269.3%.
El Pollo Loco has a trailing four-quarter earnings surprise of 85.6%, on average.
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