jack in the box inc (JACK) Key Developments
Jack in the Box Inc. Announces Management Promotions
Dec 3 13
Jack in the Box Inc. announced the promotions of three executives: Mark H. Blankenship, Ph.D., to Executive Vice President and Chief People, Culture & Corporate Strategy Officer; Paul D. Melancon to Senior Vice President of Finance, Controller & Treasurer; and Keith Guilbault to Senior Vice President and Chief Marketing Officer. Blankenship, previously Senior Vice President and Chief Administrative Officer, is responsible for the company's Human Resources, Compensation & Benefits, Jack's University, Training & Development, Consumer Intelligence & Analytics, Internal Brand Communications and Corporate Strategy process. He joined Jack in the Box Inc. in 1997 as Division Vice President of Training & Development and Field Human Resources. Prior to his promotion, Melancon had served as Vice President and Controller since joining Jack in the Box Inc. in 2005. Prior to joining the company, he was a senior executive at several major companies, including Guess Inc., Hyper Entertainment Inc., and Sears, Roebuck and Co. In his new role as Chief Marketing Officer for the Jack in the Box brand, Guilbault now has responsibility for all marketing functions, including marketing communications, advertising, media and merchandising, as well as oversight of the brand's menu strategy and several functions integral to product development and marketing, including Research & Development, Regional Marketing and Operations Support. Prior to joining Jack in the Box Inc., Guilbault held management positions for several large companies, including Mobil Oil Corporation, Priceline Webhouse Club and Freemarkets Inc.
Jack in the Box Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 29, 2013; Reports Impairment Charges for the Fourth Quarter of 2013; Provides Sales Guidance for the First Quarter Ending January 19, 2014, and Earnings Guidance for the Fiscal Year Ending September 28, 2014 and Fiscal 2015; Plans to Open New Stores; Expects Impairment Charges for the First Quarter Ending January 19, 2014
Nov 20 13
Jack in the Box Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended September 29, 2013. For the quarter, the company reported revenue was $337.98 million against $348.9 million a year ago. Earnings from operations were $36.7 million against $31.1 million a year ago. Earnings from continuing operations and before income taxes were $33.51 million against $27.2 million a year ago. Earnings from continuing operations were $24.12 million against $19.22 million a year ago. Net earnings were $22.83 million against $12.48 million a year ago. Diluted earnings per share from continuing operations were $0.54 against $0.42 a year ago. Diluted earnings per share were $0.51 against $0.27 a year ago. Operating earnings per share, a non-GAAP measure which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains or losses from refranchising, were $0.45 in the fourth quarter of fiscal 2013 compared with $0.31 in the prior year quarter.
For the full year, the company reported revenue was $1,489.87 million against $1,509.29 million a year ago. Earnings from operations were $138.2 million against $120.82 million a year ago. Earnings from continuing operations and before income taxes were $122.95 million against $101.94 million a year ago. Earnings from continuing operations were $82.61 million against $68.1 million a year ago. Net earnings were $51.15 million against $57.65 million a year ago. Diluted earnings per share from continuing operations were $1.84 against $1.52 a year ago. Diluted earnings per share were $1.14 against $1.28 a year ago. Cash flows provided by operating activities were $198.872 million against $136.730 million a year ago. Purchases of property and equipment were $84.690 million against $80.200 million a year ago. Purchases of assets intended for sale and leaseback was $26.058 million against $35.927 million a year ago. For fiscal year 2013, operating earnings per share were $1.82 compared with $1.31 last year.
For the quarter, the company reported impairment and other charges, net was $4.38 million against $8.25 million a year ago.
The company announced guidance and underlying assumptions reflect the company's current expectations for the first quarter ending January 19, 2014, and the fiscal year ending September 28, 2014. For the first quarter of 2014, same-store sales are expected to increase approximately 1.5 to 2.5% at Jack in the Box company restaurants versus a 2.1% increase in the year-ago quarter.
For the fiscal year 2014, same-store sales are expected to increase approximately 1.5 to 2.5% at Jack in the Box company restaurants. Restaurant operating margin for the full year, which reflects an approximate 20 basis points impact from the July 2014 minimum wage increase in California, is expected to be approximately 17.7 to 18.1%, depending on same-store sales and commodity inflation. Capital expenditures are expected to be $80 to $90 million. The tax rate is expected to be approximately 37 to 38%. Operating earnings per share, which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains from refranchising, are expected to range from $2.15 to $2.30 in fiscal 2014 as compared to operating earnings per share of $1.82 in fiscal 2013.
The company updated its long-term goals for fiscal 2015 to 2017. The company expects same-store sales growth of 2 to 3% annually at Jack in the Box company restaurants. Restaurant operating margin of 18.5 to 19.5%.
Approximately 10 new Jack in the Box restaurants are expected to open, including approximately 3 company locations.
The company also expects impairment and other charges as a percentage of revenue are expected to be approximately 70 basis points, excluding restructuring charges for the first quarter ending January 19, 2014.
Jack in the Box Inc., Q4 2013 Earnings Call, Nov 21, 2013
Nov 13 13
Jack in the Box Inc., Q4 2013 Earnings Call, Nov 21, 2013
Jack in the Box Introduces New Late Night Menu with Jack's Munchie Meal
Sep 26 13
Jack in the Box has developed the cure to mellow even the meanest manifestation of the munchies - Jack's Munchie Meal. Late night lovers can choose from 4 different perfectly packaged menu options, complete with sides and a drink, it's a Jack-sized ton of food for just $6.00, plus tax, at participating locations. Available nightly only after 9 p.m., every Jack's Munchie Meal comes in its own box with 2 tacos, Halfsie fries (half Seasoned Curly Fries, half French Fries) and a 20 oz. drink, plus one of 4 awesome, new entrées exclusive to Jack's late night menu: Stacked Grilled Cheese Burger - Sourdough grilled cheese on top, cheeseburger on bottom. Tuck into this tasty bunk bed; The Brunch Burger - A burger with a fried egg and a crispy hash brown for when it's so late one don't know whether it's dinner or breakfast; Exploding Cheesy Chicken Sandwich - A chicken sandwich exploding with mozzarella cheese sticks and gooey white cheese sauce. Oh my cheesy goodness; Loaded Chicken Nuggets - Chicken nuggets drowning in two kinds of cheese with ranch and bacon. Additionally, each entrée can be purchased separately after 9 p.m. for $4.00, plus tax, and Halfsies are always available for $2.50, plus tax, at participating locations.
Jack in the Box Inc. Presents at Wells Fargo 2013 Retail and Restaurants Summit, Oct-01-2013 08:45 AM
Sep 18 13
Jack in the Box Inc. Presents at Wells Fargo 2013 Retail and Restaurants Summit, Oct-01-2013 08:45 AM. Venue: The Four Seasons, 200 Boylston Street, Boston, MA 02116, United States.