Strategy News--AFC, Papa John's
Atlanta--Embattled chain operator AFC Enterprises Inc., franchisor of Popeyes, Church's and Cinnabon, has faced a difficult business environment but expressed confidence that it would continue growing its brands and generate at least $60 million in free cash flow in 2003. AFC plans to continue to grow its brands through unit count expansion, store reimaging and new product initiatives. -Nation's Restaurant News
Louisville, Kentucky--While Papa John's has reported sales declines in 11 of the past 16 months, the company remains optimistic it can reverse its negative fortunes. Papa John's rapid growth throughout the 1990s, according to the company, yielded a company too large to manage with current staff. The company has spent $6.5 million on various initiatives that are underway to turn the chain around. -PizzaMarketplace.com
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