Papa John Warns: Pizza Prices Will Rise Under Obamacare
During a shareholders conference call last week, "Papa" John Schnatter, founder and CEO of the pizza chain that bears his name, issued a warning to consumers that, unless Obamacare is repealed, the company's pizza prices are likely to increase.
"If Obamacare is in fact not repealed, we will find tactics to shallow out any Obamacare costs and core strategies to pass that cost onto consumers in order to protect our shareholders best interests," Schnatter said, according to Politico.
A major Mitt Romney backer, Schnatter estimates pizzas under Obamacare will cost 11 to 14 cents extra, "or 15 to 20 cents per order from a corporate basis."
McDonald's addressed Obamacare concerns during its Q2 earnings call last month, but, unlike Papa John's, did not indicate that need to pass the impact onto consumers.