Jack In The Box To Close 40 Restaurants This Year

(RTTNews) - Restaurant chain operator Jack in the Box Inc. (JACK: News ) Wednesday said it plans to close 40 of its company-operated restaurants prior the close of fiscal year that ends on October 3. The company said the restaurants failed to meet acceptable levels of return on investment in its comprehensive analysis performed during fourth quarter

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Jack in the Box Misses

Jack in the Box Inc. (JACK - Snapshot Report) posted fiscal 2010 second-quarter earnings of 32 cents per share recently. The company’s earnings came in behind both the Zacks Consensus Estimate of 40 cents per share as well as the year-ago result of 52 cents. The worse-than-expected result was primarily caused by sluggish sales and higher overheads.


San Diego-based Jack in the Box is a restaurant company that operates and franchises more than 2,200 Jack in the Box quick-service restaurants across 18 states. The company, through a wholly owned subsidiary, also operates and franchises Qdoba Mexican Grill fast-casual dining chain, with more than 500 restaurants in 43 states and the District of Columbia.

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EEOC lawsuit kills Jack in the Box deal

Four Jack in the Box restaurants formerly owned and operated by Abe Alizadeh will likely close because a federal agency wants to impose regulations on new owners based on sexual harassment charges from four years ago.

The four restaurants will likely close around April 15, leaving about 200 out of work.

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Jack in the Box Inc. Reports First Quarter FY 2010 Earnings

SAN DIEGO, Feb 17, 2010 (BUSINESS WIRE) -- Jack in the Box Inc. (NASDAQ: JACK) today reported net earnings of $24.2 million, or 43 cents per diluted share, for the first quarter ended Jan. 17, 2010, compared with earnings from continuing operations of $28.0 million, or 49 cents per diluted share, for the first quarter of fiscal 2009.
Same-store sales at Jack in the Box(R) company restaurants decreased 11.1 percent in the first quarter of 2010 compared with a year-ago increase of 1.7 percent.

Linda A. Lang, chairman, chief executive officer and president, said, "We believe high unemployment rates for our key customer demographics continue to be the biggest factor impacting sales at Jack in the Box."

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Jack in the Box Inc. Reports Fourth Quarter and FY 2009 Earnings; Issues Guidance for FY 2010

SAN DIEGO--(BUSINESS WIRE)--Nov. 18, 2009-- Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $40.6 million, or 70 cents per diluted share, for the fourth quarter ended Sept. 27, 2009, compared with earnings from continuing operations of $26.1 million, or 45 cents per diluted share, for the fourth quarter of fiscal 2008. For fiscal 2009, earnings from continuing operations totaled $131.0 million, or $2.27 per diluted share, compared with $118.2 million, or $1.99 per diluted share in fiscal 2008. Both the fourth quarter of 2008 and fiscal year 2008 included a negative impact of approximately 4 to 5 cents per diluted share for losses and costs related to Hurricane Ike.

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Jack in the Box Inc. Reports Third Quarter FY 2009 Earnings and Updates FY 2009 Guidance

SAN DIEGO--(BUSINESS WIRE)--Aug. 4, 2009-- Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $32.9 million, or 57 cents per diluted share, for the third quarter ended July 5, 2009, compared with earnings from continuing operations of $29.5 million, or 50 cents per diluted share, for the third quarter of fiscal 2008. Third quarter 2009 results include a pre-tax loss of approximately $2.4 million, or approximately 3 cents per diluted share, related to the expected sale of a lower-performing Jack in the Box® company-operated market that is anticipated to close by the end of the calendar year. This loss is included in “Gains on sale of company-operated restaurants, net” in the accompanying consolidated statements of earnings.

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Jack in the Box Inc. Announces Agreement to Sell 55 Quick Stuff® Locations

Jack in the Box details refranchising deals

Jack in the Box Inc. Reports Second Quarter FY 2009 Earnings and Updates FY 2009 Guidance

SAN DIEGO--(BUSINESS WIRE)--May. 13, 2009-- Jack in the Box Inc. (NASDAQ:JACK) today reported earnings from continuing operations of $29.6 million, or 51 cents per diluted share, for the second quarter ended April 12, 2009, compared with earnings from continuing operations of $26.3 million, or 44 cents per diluted share, for the second quarter of fiscal 2008. As previously announced, in September 2008 the company’s board of directors approved plans to sell its Quick Stuff® convenience stores. The results of operations for Quick Stuff are included in discontinued operations in the accompanying consolidated statements of earnings for all periods presented.

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