Jack in the Box Inc. reports developments tied to its quick-service restaurant business, including earnings releases, same-store sales, restaurant operations, menu promotions, marketing leadership and technology systems used across its corporate and franchise locations. Coverage also includes brand initiatives under Jack’s Way and operational programs intended to simplify the business.
Company news also reflects governance and shareholder matters, including board refreshment, annual meeting results, stockholder engagement and changes to director roles. Corporate updates document portfolio actions such as the completed sale of Del Taco and the treatment of that business as discontinued operations in reported results.
Jack in the Box (NASDAQ: JACK) has launched a franchise incentive program, targeting multi-unit agreements. The program offers lowered royalty fees for new franchisees who sign at least three agreements by March 2023. This could save franchisees up to $180,000 over five years. The company reported 30 agreements for 106 future locations and a revenue increase of 19.8% year-over-year. With over 2,200 restaurants, Jack in the Box aims to enhance support for franchisees and expand its market presence.
Jack in the Box (NASDAQ: JACK) reported third-quarter results for Jack and Del Taco segments, with same-store sales declining by 0.6% at Jack and increasing by 3.5% at Del Taco. Systemwide sales fell 1.4% for Jack, while Del Taco saw a 3.3% increase. The company is focusing on future growth with 62 development agreements for 220 new restaurants. Restaurant-Level Margin decreased to 15.8%, impacted by rising costs. Earnings per share were reported at $1.08, while total revenues surged 47.8% to $398.3 million, though net earnings declined to $22.9 million.
Jack in the Box Inc. (NASDAQ: JACK) has promoted Chad Gretzema, previously COO of Del Taco, to Brand President of Del Taco, succeeding John Cappasola. Gretzema has been with Del Taco since 2012 and played a significant role in driving eight consecutive years of positive franchise same-store sales. Jack in the Box CEO Darin Harris expressed confidence in Gretzema's leadership and strategic vision to enhance growth across both brands, leveraging shared services and best practices.
Jack in the Box (NASDAQ: JACK) has brought back popular menu items, Spicy Chicken Strips and French Toast Sticks, announced by former employee Mark Hamill. These items are available for a limited time at restaurants nationwide, on the app, and through delivery services. The Spicy Chicken Strips feature new sauce flavors, priced from $5. French Toast Sticks return after a decade, available in 3-pc or 6-pc packs, starting at $2.00. A limited-edition comic book recounting Hamill's story at Jack in the Box will be available for free starting August 11.
Del Taco has announced the launch of several new products and promotions, emphasizing affordability amidst rising inflation. Starting July 28, fans can enjoy NEW Queso Crunchtadas® and a NEW Strawberry Piñata Shake made with M&M'S® Candies. A limited-time BOGO offer on Crispy Chicken Tacos will also run from July 24 to July 31, 2022, available through the Del Yeah!™ Rewards app. The 20 Under $2 Menu features items like the $1.49 Crispy Chicken Tacos, reflecting Del Taco's commitment to value and quality.
Jack in the Box (NASDAQ: JACK) will host a Q3 2022 Earnings Webcast on August 10 at 1:00 p.m. EDT. This event will follow the release of Q3 earnings before the market opens on the same day. Investors can access the live webcast through the company's investor relations website at investors.jackinthebox.com. The earnings release will provide key financial metrics for the quarter, impacting stakeholders’ assessments of company performance.
Jack in the Box (NASDAQ: JACK) introduces its latest limited-time offerings, including the Girl Scout Adventurefuls™ Caramel Brownie Shake, combining vanilla shake with brownie pieces, and the new Grilled Chicken Sandwich featuring 100% grilled chicken. Additionally, the Mega Munchie Box is launched, packed with favorites like Curly Fries and Chicken Nuggets, available exclusively to DashPass members. These new menu items aim to enhance customer experience and drive traffic during the summer season.
Jack in the Box (NASDAQ: JACK) has announced its participation in several upcoming investor events, aiming to engage with the market and provide insights into its operations.
Key dates include the RBC Capital Markets Global Consumer and Retail Conference in Boston on June 1, the Goldman Sachs Travel and Leisure Conference on June 6 in New York City, and the Stifel Cross Sector Insight Conference on June 9 in Boston, among others.
For further information, visit the investor relations page.
Jack in the Box reported a 0.1% increase in systemwide sales and -0.8% same-store sales for Q2 2022, impacted by inflation and Omicron-related challenges. Del Taco achieved a 2.9% rise in systemwide sales and 2.5% same-store sales. Net earnings fell to $7.8 million from $35.9 million year-over-year. Adjusted EBITDA decreased to $64.4 million. The company revised FY 2022 EPS guidance to $5.80 to $6.10 and expects same-store sales growth for Jack in the Box to remain flat to +1.0%. A cash dividend of $0.44 per share is set for June 22, 2022.
Jack in the Box has partnered with Jolt to implement a digital food safety solutions platform across its 2,200+ locations. The decision was made after evaluating multiple vendors, highlighting Jolt's capability to enhance monitoring and compliance with food safety protocols. This collaboration aims to streamline food safety checks, daily location checklists, and employee training, thereby reinforcing Jack in the Box's commitment to food quality and customer satisfaction. The rollout of Jolt's platform is set for this year, underlining Jack in the Box's continuous improvement strategy.