Welcome to our dedicated page for Jack in the Box news (Ticker: JACK), a resource for investors and traders seeking the latest updates and insights on Jack in the Box stock.
Jack in the Box Inc. (NASDAQ: JACK) is a prominent restaurant company headquartered in San Diego, California. Known for its extensive network of more than 2,200 Jack in the Box® restaurants across 21 states and Guam, the company has established itself as one of the nation’s largest hamburger chains. In addition to its flagship brand, Jack in the Box Inc. operates and franchises QDOBA Mexican Eats®, a leader in the fast-casual dining sector with over 600 restaurants in 47 states, the District of Columbia, and Canada.
Jack in the Box's diverse menu includes an array of hamburgers, tacos, fries (both regular and curly), specialty sandwiches, salads, and ice cream shakes, offering customization options to cater to individual tastes. The company also provides catering and delivery services, ensuring convenience for its customers.
The company operates through two primary segments: Jack in the Box and Del Taco. The latter is known for its Fresh Flex design and commitment to high-quality, freshly prepared Mexican and American cuisine. Del Taco's menu features tacos, Epic Burritos®, quesadillas, and Del Taco's famous Crinkle-Cut fries, among other items, with a focus on delivering fresh ingredients and innovative dining experiences.
Recent Achievements and Developments:
- Jack in the Box continues to innovate its offerings to meet evolving consumer preferences. Notable recent introductions include the Buttery Jack and the OREO cookie ice cream shake.
- The company's mission to make the world a more delicious place extends to its corporate culture, encouraging employees to explore new menu items and develop their careers through targeted goals and skill development.
- Del Taco has recently expanded its Fresh Flex restaurant design to new locations, providing an elevated brand experience with features like double drive-thru lanes and third-party pick-up stations.
- Del Taco’s Opelika location now serves as a model for the brand's innovative design and enhanced customer experience, offering extended hours and a value-oriented menu.
Jack in the Box Inc. remains dedicated to providing high-quality food and exceptional service, maintaining its position as a significant player in the quick-service and fast-casual restaurant industries.
Jack in the Box (NASDAQ: JACK) announced its participation in the 2023 ICR Conference scheduled for Monday, Jan. 9, 2023, at 11:30 a.m. ET in Orlando, FL. CEO Darin Harris will present during the event, which will be available via live webcast. Interested parties can access the presentation at investors.jackinthebox.com. The company operates more than 2,180 Jack in the Box restaurants, along with Del Taco.
Jack in the Box Inc. (NASDAQ: JACK) has entered a significant agreement with Cedar Tree Restaurant Group, led by Jeff Yablun and Frank Conley, aiming to develop 37 new and acquire 46 existing units across Nashville, Baton Rouge, Greenville, and Charlotte. This deal marks the largest single franchise commitment within 267 signed since mid-2021. Following its Q4 earnings call, the company is optimistic about positive net unit growth for the first time in four years, highlighting confidence in the brand's future.
Del Taco, the second largest Mexican quick service restaurant in the U.S., announces significant growth in Florida with two multi-unit franchise deals for up to 10 new locations. Franchisee Tom Edwards will open five restaurants in northern Tampa Bay, while Oliver Hurd will establish five in Palm Beach and North Broward County. The company aims to attract experienced operators in areas across the U.S. to meet rising demand, emphasizing its commitment to quality ingredients and customer service.
Jack in the Box (NASDAQ: JACK) announced the departure of CFO Tim Mullany, effective February 2, 2023, for personal reasons. Until a successor is found, Dawn Hooper, with 22 years at the company, will serve as interim Principal Financial Officer. Mullany joined in January 2021 and was instrumental in the recent Del Taco acquisition. CEO Darin Harris praised Mullany’s contribution during challenging times of inflation and integration between the brands.
Jack in the Box is launching an exciting initiative called 24 Days of Jackmas, starting December 1st, exclusively for Jack Pack® rewards members. This promotion features daily food deals, including favorites like 2 Tacos and Curly Fries, aimed at enhancing customer engagement during the holiday season. The event emphasizes Jack's playful and festive branding, encouraging customers to participate through the Jack app or website.
Del Taco, the second largest Mexican quick service restaurant chain in the U.S., has opened its first location in southwest Florida at 5610 W. Manatee Avenue, Bradenton. This marks the fifth location in the state and expands the brand's footprint beyond Orlando. The new outlet features a Fresh Flex layout, emphasizing convenience and modern design. Customers can enjoy popular menu items, including EPIC Burritos and NEW Epic Tortas. The company continues its commitment to fresh ingredients, and new customers can earn rewards through the Del Yeah! Rewards app.
Jack in the Box (NASDAQ: JACK) completed a record-setting year with 155 new restaurant commitments in 2022 and announced plans for positive net unit growth in 2023. This marks the first significant growth in four years, driven by revitalized franchisee relationships and expansion into new markets, including Salt Lake City and Louisville. The company has signed 68 development agreements for a total of 267 new restaurants since launching its development program. The success of these new openings is crucial for future growth and franchisee engagement.
Jack in the Box reported a 4.0% increase in same-store sales for Q4 2022 and 0.9% for FY 2022. Del Taco saw even stronger growth with 5.2% same-store sales in Q4. Overall, the company anticipates positive net unit growth in FY 2023, opening 25-30 new locations. Despite operational challenges, management remains optimistic about sales momentum and margin strategies, although Restaurant-Level Margin declined to 16.2% due to increased costs. FY 2023 operating EPS is guided between $5.25-5.65.
Del Taco is celebrating the holiday season with the return of its popular tamale menu, starting November 17, 2022. Customers can enjoy two for $5 tamales and earn double points on Del Yeah!™ Rewards purchases. The seasonal menu offers options like Red & Green Smothered Tamales and Chili Cheese Smothered Tamales. Additionally, the holiday gift card bonus program allows customers to receive free food with gift card purchases, including free tacos and combo meals.
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