The CEO of Papa John’s Pizza, John Schantter believes Papa John’s is losing money because of the NFL and their lack of leadership.
On 3Q earnings call, @papajohns CEO John Schnatter blames "NFL leadership" for "current debacle" between players and owners. Stock is -5%
— Chris Otts (@christopherotts) November 1, 2017
.@papajohns cut earnings projections in part b/c of "another year of unexpected decline in viewership" of NFL, exec says on call
— Chris Otts (@christopherotts) November 1, 2017
“The NFL has hurt us by not resolving the current debacle to the players’ and owners’ satisfaction,” Schnatter, who serves as the pizza chain’s chairman and chief executive officer, said on a conference call. “NFL leadership has hurt Papa John’s shareholders.”
The remarks follow a controversy over NFL football players protesting during the national anthem, a movement that started last season. The demonstrations have sparked calls for a boycott and raised concerns among league sponsors. But Schnatter’s comments mark the highest-profile example of an NFL partner publicly blaming the outcry for hurting business.
Schnatter’s criticism stems from the NFL’s decision to allow players to protest on the field during the playing of the national anthem before games. This form of protest first started when former San Francisco 49ers quarterback Colin Kaepernick refused to stand for the national anthem in 2016 and has since spread in one form or another to all 32 teams.
Papa John’s stock was down nearly eight percent on Tuesday, according to Chris Otts of WDRB.com. Schnatter is blaming what he describes as the “current debacle” between NFL players and owners for the falling sales.
Papa John’s could have a valid argument here. If folks are boycotting the NFL,what’s the point of ordering pizza for large gatherings on a Sunday afternoon?
