Pizza chain to close up to 50 locations as sales slump

MTY Food Group’s CEO said 45-50 Papa Murphy’s stores will close after turnaround efforts over nearly two years failed to deliver results. The action signals continued weakness in performance and likely adds near-term operating cost pressure from closures.

Analysis

MTY Food Group’s CEO said 45-50 Papa Murphy’s stores will close after turnaround efforts over nearly two years failed to deliver results. The action signals continued weakness in performance and likely adds near-term operating cost pressure from closures.