Finance

Q4 Profits Inch Up at San Diego’s Jack in the Box to $30M, but Same-Store Sales Decline by $60M

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Jack in the Box restaurant
A new Jack in the Box Restaurant in Texas. Courtesy of the company

San Diego-based Jack in the Box Inc. reported Wednesday net earnings of $30 million in the fourth quarter of its fiscal year, or $1.01 per share, compared to $32 million, or 97 cents per share, in the same period last year.

The company, which operates Jack in the Box and Qdoba eateries, suffered a nearly $60 million decline in restaurant revenues during the quarter, to $241 million.

Same-store sales for Jack in the Box fell 1 percent, and Qdoba 2.1 percent overall and 4 percent for company-owned stores, during the three-month period.

Jack in the Box said its board of directors was evaluating Qdoba’s future but cautioned against expectations of any particular course of action.

“Our fourth quarter operating results concluded a challenging year for both brands,” said CEO Lenny Comma. “Our key initiatives in 2018 will be focused on regaining momentum in a highly competitive environment.”

For the full year, Jack in the Box reported net earnings of $135.3 million, or $4.38 per share, compared to $124.1 million, or $3.63 per share. Comma noted that the company repurchased $327 million worth of stock and returned $49 million in dividends to shareholders. in the fourth quarter of its fiscal year, or $1.01 per share, compared to $32 million, or 97 cents per share, in the same period last year.

The company, which operates Jack in the Box and Qdoba eateries, suffered a nearly $60 million decline in restaurant revenues during the quarter, to $241 million.

Same-store sales for Jack in the Box fell 1 percent, and Qdoba 2.1 percent overall and 4 percent for company-owned stores, during the three-month period.

Jack in the Box said its board of directors was evaluating Qdoba’s future but cautioned against expectations of any particular course of action.

“Our fourth quarter operating results concluded a challenging year for both brands,” said CEO Lenny Comma. “Our key initiatives in 2018 will be focused on regaining momentum in a highly competitive environment.”

For the full year, Jack in the Box reported net earnings of $135.3 million, or $4.38 per share, compared to $124.1 million, or $3.63 per share. Comma noted that the company repurchased $327 million worth of stock and returned $49 million in dividends to shareholders.

— City News Service

Q4 Profits Inch Up at San Diego’s Jack in the Box to $30M, but Same-Store Sales Decline by $60M was last modified: November 29th, 2017 by Ken Stone

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