John Schnatter, the CEO of Papa John’s, wasn’t expecting sales to decrease more after blaming the NFL for their low sales. He believes that NFL players protesting during the national anthem has had a huge effect on their business.
“The NFL has hurt us,” company founder and CEO John Schnatter said. “We are disappointed the NFL and its leadership did not resolve this.”
“Leadership starts at the top and this is an example of poor leadership,” Schnatter said, noting he thought the issue had been “nipped in the bud” a year and a half ago.
According to the Business Insider:
“John Schnatter’s net worth dropped $70 million between Tuesday afternoon and Wednesday afternoon. As of Wednesday, Schnatter was worth $801 million.
Schnatter owns roughly 25% of Papa John’s — so when the company suffers, he is directly affected.
Papa John’s shares plummeted after the company reported on Tuesday that same-store sales increased 1% in the most recent quarter, falling short of expectations. The company additionally lowered its forecast for North American same-store sales for the year to 1.5%, down from 2 to 4%.”
After the claim multiple pizza companies chimed in:
— DiGiorno Pizza (@DiGiornoPizza) November 1, 2017