Good ‘ol Papa John’s. You know the guy who pops up on your screen when you’re trying to watch a football game to sell you underwhelming pizza with Peyton Manning by his side. Well, that guy is now blaming the organization he exploits for his own profits for losing him money.
The worth of John Schnatter, founder and CEO of pizza chain Papa John’s, fell $70 million in less than 24 hours after the company released its third-quarter financial report on Tuesday afternoon. The report praised the business on earnings and revenue, but lowered guidance on same-store sales.
Investors of the company did not like that report, leaving many to pull out and sent shares swirling down to 11% through Wednesday. The stock is now only worth $60 when it was previously shared at $75 at the beginning of the month.
The 55-year-old, who owns roughly 25% of Papa John’s, is now worth $801 million, Forbes estimates, instead of the BILLION he was estimated before the drop.
Wow, God forbid you’re only worth as much as Jay-Z, because now the guy is blaming The NFL for his downfalls. Bite the hand that feeds you Schnatter and see how well that helps you.
“The NFL has hurt us by not resolving the current debacle,” he said on a conference call on Wednesday.
The NFL Network reaches millions of fans across the country and the game has gone international thanks to the London Games. When the NFL decides to promote your pizza company over the likes of others, you should be down on your knees thanking them and trying to lift them up when their down, not push dirt in their face because you saw some loss too.
The protests are not something everyone agrees with, this is hardly anything new. But after getting on the Forbes Billionaire List for the first time last year from profiting off of ads on football games, you think the guy would be a little more sympathetic to their situation. If their “debacle” costs you $70 mil, knocking them down won’t help.
Lmao Papa Johns blaming their sales on kneeling black NFL players. Wasn't nobody eating that sh*t but Peyton Manning anyways😂 pic.twitter.com/Gs0nxZnISe
— DKT (@darleneturner53) November 1, 2017