Future of PZA?I bought in around $12 in 2013 and 75% of my profit is thanks to dividends. Stock price has been on a downtrend since the beginning of 2017 when it was pushing all time highs. SSSG was quite dismal for a while, looks like it's starting to turn back around so that might be promising for next earnings release (btw, does anyone know when that is? Their investor relations page is 404, lol). They've had menu expansion, renovated restaurants and an increase in average customer checks despite lower traffic.
After reviewing MD&A and seasonality I believe PZA will have a good upcoming earnings, might go up a little, but really, are its glory days behind them? The food industry is ultra competitive now, and there's only so much innovation you can do with pizza while still keeping it cost-effective. Could PZA successfully diversify their menu without creating an outcry? Tim Hortons customers lost their minds when burgers were introdcued, to the point where they were pressured to remove them.
Another huge laggard is their customer service. Unfortunately it's pervasive both within corporate and restaurants themselves. For example, if there's an error expect to suffer a headache for more than what it's worth. In one case I had an incorrect topping on my pizza and instead of making a replacement I was offered a 50% refund. Imagine the uproar if Walmart refunded customers half the cost of a defective item! Franchise owners tend to be immigrants from countries where customer service is not a prevalent value, so it just becomes a systemic problem.
I dunno, even with the nice yield I find it hard to be convinced that I should hold for another 6 years, or really own any of it at all anymore.