Papa John’s International Inc. said Wednesday it has suspended all of its corporate operations in Russia, as the pizza restaurant chain condemns Russia’s invasion of Ukraine. The company said it also stopped all operational, marketing and business support to the Russian market. There are 186 Papa John’s restaurants in Russia, or 8% of the total international restaurants. The company said all the Papa John’s restaurants in Russia are owned by franchisees, and a “master franchisee” who provides all supplies for the restaurants. Papa John’s said it doesn’t own or operate any restaurants in Russia, and doesn’t receive any royalties from the franchised stores in Russia. The stock, which fell 1.2% in premarket trading, has tumbled 28.0% over the past three months through Tuesday, while the S&P 500 has lost 10.6%.
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