Word: hut
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...from John Schnatter, the perfectionist CEO of the fast-growing Papa John's International pizza chain, makes "the hair stand up on the back of your neck," says Tracy Friedlein, who manages a company-owned pizzeria in Louisville, Ky. "You run to do everything to prove yourself." But Pizza Hut chief Mike Rawlings, who has brought a federal lawsuit charging that Papa John's "better ingredients, better pizza" campaign is false and misleading, sees Schnatter in a harsher light. "They have been spreading misconceptions about us," Rawlings says. "We've got to let the truth be known...
...sauce and the texture of dough can be all-consuming passions, the truth these days is that Papa John's has been eating everyone else's lunch. The company has nearly doubled its market share in the past two years, to 4.1%--grabbing away business from No. 1 Pizza Hut and No. 3 Little Caesars and battling delivery king Domino's. Papa John's (1997 sales: $868 million) is the only one of the four largest pizza chains whose slice of the pie has grown at double-digit rates over the past five years. Profits? Papa John's earnings jumped...
Schnatter, 36, who gets visibly excited when talking about the sugar-acid ratio in his pizza, which gives Papa John's pies a distinctively sweet flavor, puts simplicity above all else. Pizza Hut offers more variety; Domino's stresses fast delivery; and Little Caesars sells the least expensive pies. Papa John's has no seating, offers just two types of pizza--no salads, sandwiches or buffalo wings--and remakes any pies that rate less than an 8 on the company's 10-point scale. If the cheese shows a single air bubble or the crust is not golden brown...
...recently been down some 20% from its 52-week high.) Schnatter and his wife and three children live in a brick-and-stone mansion set on nearly 16 landscaped acres in suburban Louisville, Ky. One neighbor Schnatter probably doesn't call on: David Novak, the former boss of Pizza Hut and current president and vice chairman of Pizza Hut parent Tricon Global Restaurants, who lives not far away...
...Pizza Hut (1997 sales: $4.7 billion), which has a 22% share of the pizza market and four times as many stores as Papa John's, has been busily boosting quality and shutting down poorly performing stores. Under pressure from Papa John's, Pizza Hut spent $50 million last year to roll out what it called Totally New Pizzas, featuring thicker tomato sauce, fresh sliced vegetables and meatier toppings. Meanwhile, Pizza Hut has closed 250 stores since PepsiCo spun it and siblings Taco Bell and KFC into Tricon last year. The new strategy pushed Pizza Hut's same-store sales...