Thursday, November 2, 2017

Major sponsor of NFL broadcasts blames sales decline on kneeling controversy



Thomas Lifson   "Becoming the NFL's "official pizza sponsor" worked out well for Papa John's until Colin Kaepernick launched his protests.  Yesterday, the chain's founder, John Schnatter, blamed the NFL kerfuffle for his company's same-store sales decline that sparked a 13% tumble in its stock price.  In a post-earnings report conference call, via Bloomberg:
"The NFL has hurt us by not resolving the current debacle to the players' and owners' satisfaction," Schnatter, who serves as the pizza chain's chairman and chief executive officer, said on a conference call. "NFL leadership has hurt Papa John's shareholders." ...
"Leadership starts at the top, and this is an example of poor leadership," Schnatter said.
"This has got to scare the NFL owners, if they have any brains.  It is evidence that their brand is becoming toxic.  For years, companies have sought identification with the NFL by licensing, advertising, sky box rentals, Super Bowl events, and other expensive investments.  That process is now working in reverse." . . .

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