Papa John’s is having a hard time with sales and blaming the NFL for hitting its bottom line. On Tuesday the pizza company, which has been a league sponsor since 2010, sliced its sales and profit forecasts. Papa John’s founder and CEO John Schnatter wasn’t shy about pointing the finger at who he thinks is to blame for the “debacle”: Commissioner Roger Goodell.
Like the rest of network television, NFL ratings are in a slump. Even through Week 7, NFL viewership is down 5% overall from the same point last year. There could be several causes as to why ratings are dropping including the controversy over players kneeling during the National Anthem to protest police violence.
President Trump has called on fans to boycott the NFL if the league doesn’t crack down on protests and Vice President Mike Pence left an Indianapolis Colts game last month after San Francisco 49ers’ players took a knee during the anthem. Last month during a league meeting, Goodell and the NFL owners opted not to force players to stand during the Anthem.
Although the NFL may be part of the problems Papa John’s faces, it’s far from the only one. The stock is down 24% this year, while competitors including Domino’s have performed well.
Still, Schnatter specifically cited the NFL anthem protests as the root of the problem. As a result, Papa John’s has pulled some of its planned commercials from NFL games this season and according to CNN, Schnatter said the NFL has promised to give the pizza company future spots in return.
Papa John’s still expects sales to increase by 1.5% in North America this year, but that’s down from its previous estimates. Shares of Papa John’s tumbled 9% on the lowered estimates.
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