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.
Jack in the Box Launches Three New Breakfast Items
Aug 18 14
Jack in the Box Inc. has launched three new breakfast items, featuring the Meat Lovers and Grande Sausage Breakfast Burritos, as well as new Croissant Donuts. The Meat Lovers Breakfast Burrito is loaded with the perfect breakfast meat trifecta: sausage, ham and bacon. The Grande Sausage Breakfast Burrito is stuffed to the brim with sausage, hash browns, bacon and topped off with Jack's new creamy Sriracha sauce. Both burritos are wrapped in a large Guerrero Tortilla and served with a side of fire-roasted salsa because Jack takes flavor seriously. Jack in the Box's new Croissant Donuts are the perfect pop-able, portable and sharable breakfast for those on-the-go. Combining the sweetness of a donut with the buttery flakiness of a croissant, these Croissant Donuts are served hot and dusted with cinnamon sugar to make taste buds glad they dragged out of bed. Available as a one or three-piece order, these tasty treats are around for a limited time only.
Jack in the Box Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended July 6, 2014; Declares Quarterly Cash Dividend, Payable on September 2, 2014; Plans to Open 15 New Restaurants in the Fiscal 2014; Provides Same Store Sales Guidance for the Fourth Quarter of the Fiscal 2014 and Earnings Guidance for the Fiscal 2015
Aug 6 14
Jack in the Box Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended July 6, 2014. For the quarter, the company reported revenue of $348,492,000 against $350,329,000 a year ago. Earnings from operations were $43,000,000 against $30,884,000 a year ago. Earnings from continuing operations and before income taxes were $39,465,000 against $27,614,000 a year ago. Earnings from continuing operations were $26,127,000 or $0.64 per diluted share against $17,296,000 or $0.38 per diluted share a year ago. Net earnings were $24,703,000 or $0.61 per diluted share against net losses of $5,656,000 or $0.12 per diluted share a year ago. Operating earnings per share non-GAAP were $0.61 against $0.41 a year ago.
For the nine months, the company reported revenue of $1,139,444,000 against $1,151,886,000 a year ago. Earnings from operations were $133,083,000 against $101,506,000 a year ago. Earnings from continuing operations and before income taxes were $120,695,000 against $89,445,000 a year ago. Earnings from continuing operations were $77,401,000 or $1.82 per diluted share against $58,491,000 or $1.30 per diluted share a year ago. Net earnings were $72,790,000 or $1.71 per diluted share against $28,324,000 or $0.63 per diluted share a year ago. Cash flows provided by operating activities were $113,923,000 against $167,288,000 a year ago. Purchases of property and equipment were $43,825,000 against $57,971,000 a year ago. Purchases of assets intended for sale and leaseback were $19,000 against $25,198,000 a year ago. Operating earnings per share non-GAAP were $1.91 against $1.37 a year ago.
The company declared a quarterly cash dividend of $0.20 per share on the company's common stock. The dividend is payable on September 2, 2014, to shareholders of record at the close of business on August 18, 2014.
For the fourth quarter of the fiscal 2014, the company announced same-store sales are expected to increase approximately 1.5% to 2.5% at the company restaurants versus a 0.2% decrease in the year-ago quarter. The tax rate is expected to be approximately 35.5% to 36.5%.
For the fiscal 2014, the company reported same-store sales are expected to increase approximately 1.5% to 2.0% at the company restaurants. Capital expenditures look to be in the $90 million to $100 million range, with the increase due to a greater number of openings and remodels for Qdoba, as well as equipment cost for Jack in the Box, which are expected to improve speed of service and food quality. The tax rate is expected to be approximately 35.5% to 36.5%. 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 now expected to range from $2.38 to $2.45 in fiscal 2014 as compared to operating earnings per share of $1.82 in fiscal 2013.
For the fiscal 2014, the company reported approximately 15 new restaurants is expected to open system-wide.