Jack in the Box Inc. Declares Cash Dividend for the Fourth Quarter Ended September 28, 2014 Payable on December 12, 2014; Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 28, 2014; Reports Impairment Charges for the Fourth Quarter of 2014; Provides Sales Guidance for the First Quarter of Fiscal Year Ending September 27, 2015; Provides Earnings Guidance for the Fiscal Year Ending September 27, 2015; Plans to Open New Stores
Nov 18 14
Jack in the Box Inc. announced that the board of directors declared a quarterly cash dividend of $0.20 per share on the company's common stock. The dividend is payable on December 12, 2014, to shareholders of record at the close of business on December 1, 2014.
The company announced unaudited consolidated earnings results for the fourth quarter and full year ended September 28, 2014. For the quarter, the company reported revenue was $344,687,000 against $337,981,000 a year ago. Earnings from operations were $29,225,000 against $36,699,000 a year ago. Earnings from continuing operations and before income taxes were $25,935,000 against $33,509,000 a year ago. Earnings from continuing operations were $17,443,000 against $24,117,000 a year ago. Net earnings were $16,160,000 against $22,828,000 a year ago. Diluted earnings per share from continuing operations were $0.45 against $0.56 a year ago. Diluted earnings per share were $0.41 against $0.53 a year ago. Operating earnings per share, a non-GAAP were $0.54 compared with $0.45 in the prior year quarter.
For the full year, the company reported revenue was $1,484,131,000 against $1,489,867,000 a year ago. Earnings from operations were $162,308,000 against $138,205,000 a year ago. Earnings from continuing operations and before income taxes were $146,630,000 against $122,954,000 a year ago. Earnings from continuing operations were $94,844,000 against $82,608,000 a year ago. Net earnings were $88,950,000 against $51,152,000 a year ago. Diluted earnings per share from continuing operations were $2.33 against $1.91 a year ago. Diluted earnings per share were $2.18 against $1.18 a year ago. Operating earnings per share, a non-GAAP were $2.45 compared with $1.82 in the prior year quarter. Cash flows provided by operating activities were $201,022,000 against $198,872,000 a year ago. Purchases of property and equipment were $60,525,000 against $84,690,000 a year ago. Purchases of assets intended for sale and leaseback was $2,801,000 against $26,058,000 a year ago.
For the quarter, the company reported impairment and other charges, net was $2,275,000 against $4,385,000 a year ago.
The company announced guidance and underlying assumptions reflect the company's current expectations for the first quarter and the fiscal year ending September 27, 2015. For the first quarter of 2015, same-store sales are expected to increase approximately 1.0 to 2.0% at Jack in the Box company restaurants versus a 2.1% increase in the year-ago quarter.
For the fiscal year 2015, 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, is expected to be approximately 18.8% to 19.6%, depending on same-store sales and commodity inflation. Capital expenditures are expected to be $90 million to $100 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 or losses from refranchising, are expected to range from $2.73 to $2.88 in fiscal 2015 as compared to operating earnings per share of $2.45 in fiscal 2014. The company also expects impairment and other charges as a percentage of revenue are expected to be approximately 60 basis points.
For the fiscal year 2015, approximately 10 to 15 new Jack in the Box restaurants is expected to open system-wide.
Jack in the Box Inc. Appoints Frances Allen as President of the Jack in the Box Restaurant Brand
Sep 4 14
Jack in the Box Inc. announced that Frances Allen will join the company as President of the Jack in the Box(R) restaurant brand, effective October 27. Allen has more than 30 years of branding and marketing experience, including senior leadership roles at such major organizations as Denny's, Dunkin' Brands, Sony Ericsson Mobile Communications, PepsiCo and Frito-Lay. Allen will leave her current position as Executive Vice President and Chief Brand Officer at Denny's Corporation to take the new role at Jack in the Box. She joined Denny's in 2010 as EVP and Chief Marketing Officer with responsibility for developing and executing marketing strategies across the Denny's brand. When Allen was promoted to Chief Brand Officer in 2013, she assumed additional responsibility for product development and oversaw Denny's non-traditional restaurant development, including locations at college campuses, airports and military installations. When Allen joins Jack in the Box, Comma will relinquish the additional title of President that he's held since May 2012, but he will continue serving as Chairman and CEO of the company, positions he has held since January 2014.