New prototype, ghost kitchens underway as the chain prepares for unit growth
Jack in the Box attracted higher-income customers as the pandemic started, and the quick-service chain has retained many of them, which contributed to a 20.6% boost in same-store sales, executives at the San Diego-based chain said Wednesday as they announced quarterly earnings.
“When we measured churn of customers compared to last year at this time … we re seeing that it implies that Jack has been able to successfully hold onto these new higher-income customers that we acquired at the start of the pandemic,” CEO Darin Harris told investors in an earnings call for its 2
Photo: iStock.
May 13, 2021
Jack in the Box Inc. not only beat analysts estimates with its Q2 earnings and revenue, but will also provide a 10% boost in its quarterly cash dividend.
In an earnings report this morning for the quarter that ended April 11, the company said total revenues grew 19% to $257.2 million, compared to $216.2 million in last year s quarter. That number was driven by 20.6% growth in system same-store sales. Company same-store sales increased 14.5% for the quarter, which the company said reflects average check growth of 19.9%, despite a 5.4% decrease in transactions.
Other notable Q2 results include:
21.% growth in franchise same-store sales.
Net earning more than tripled to $35.9 million, or $1.58 per diluted share, compared with $11.5 million, or 50 cents per diluted share last year s quarter.
Wendys Co (NASDAQ: WEN) tweeted a promotional picture of its 4 for $4 menu option, which drew a surprising response from rival fast food burger chain, Burger King.
Wendy s 4 for $4 meal consists of a Jr. Bacon Cheeseburger, chicken nuggets, fries, and a drink.
The 4 for $4 Meal: a trayful of mouth-. Read More.
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Jack in the Box adds chief people, information officers
(Shown left to right) Newly named Jack In The Box Chief People Officer Steve Piano and Chief Information Officer Carlson Choi. (Photos provided)
April 30, 2021
Jack in the Box has named Steve Piano as chief people officer and Carlson Choi as chief information officer as the company continues the strategic transformation of its executive leadership team, a news release said.
Piano, who most recently served as head of human resources for global health and wellness company, GNC Holdings LLC, brings more than 10 years of executive-level HR experience to the company. He will support the company s employees at its San Diego restaurant support center, as well as at its systemwide locations.