LOUISVILLE, Ky. — Unlike other fast food chains experiencing food shortages, Papa John's said its supply chain has not been disrupted.
The Louisville-based company announced its first quarter earnings, bringing in $409 million, or about 15 cents a share, in profit.
While the coronavirus did affect the pizza chain, the recent demand for delivery and carry-out has increased in the past month.
The pandemic first hit the company's bottom line after it temporarily closed its restaurants in China and South Korea. As large gatherings were canceled, they also saw a decline in sales.
In April, however, Papa John's had its strongest month in its 35 year history in terms of of system-wide sales.
The chain said it has enough cash on hand to support its operations through the pandemic. It also has access to a $350 million dollar credit line if the company needs it.
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