Papa John's spent millions of dollars on 're-imaging costs' at the end of last year (PZZA)

Papa John's Pizza Facebook Page

• Papa John's shares were little changed late Tuesday after the company reported quarterly and full-year earnings results. The pizza chain's quarterly profits and revenue both fell short of analysts' expectations.
• The company said it had incurred "special charges" of $25.9 million in the fourth-quarter — and $50.7 million for the full-year — due in part to "re-imaging costs" at nearly all domestic restaurants.
• The report comes less than one month after the company received an investment from Starboard Value, the New York-based activist hedge fund.
• Shares have fallen 27% over the past year, but were up 5% so far in 2019.
• Watch Papa John's trade live.

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Papa John's shares jumped in after-hours trading Tuesday after the company reported quarterly and full-year earnings results. The pizza chain reported fourth-quarter profits and revenue that missed analysts' expectations.

Here's what Papa John's reported, compared with what analysts surveyed by Bloomberg were expecting:

See the rest of the story at Business Insider

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