Papa John's emphasizes value in new consumer strategy

In a recent interview, Papa John's CEO Todd Penegor emphasized the company's focus on providing value to customers. He spoke with CNBC's Jim Cramer about how the pizza chain adjusted its strategies to attract more customers amid economic concerns. Penegor mentioned a campaign called "better get you some," which highlighted premium pizza offerings even when customers were prioritizing value. He noted that Papa John's has become the fastest-growing pizza brand regarding what customers feel they receive for their money. The CEO also discussed improvements to the company's loyalty program. Customers now receive $2 off their next order when they spend $15, which is more accessible than the previous offer of $10 off a $75 purchase. This change has positively affected how customers perceive value and encouraged them to visit more frequently. Despite some uncertainty in the market due to tariffs from President Trump's administration, Penegor shared that cheese prices have decreased. He expressed confidence that Papa John's can manage costs effectively and is positioning itself well moving forward. Additionally, Penegor addressed concerns that weight loss drugs might reduce demand for pizza. He stated that even those taking these medications will still enjoy pizza, whether in larger or smaller portions. He concluded that pizza remains a good value for consumers.