Jack in the Box Results Boosted by Qdoba Chain
May 11 2016 - 6:00PM
Dow Jones News
Jack in the Box Inc. reported better-than-expected results for
its latest quarter, helped by a 9.5% rise in revenue at the
company's Qdoba chain.
The company handily beat Wall Street estimates for adjusted
earnings on a per-share basis by 15 cents, propelling shares up
9.7% to $71.45 after hours.
The climb in sales for Qdoba was partially offset by a 2%
decline in revenue at the Jack in the Box segment. Same-store sales
for Jack in the Box were flat for the period and rose 2.1% at
Qdoba. Qdoba, acquired in 2003, has posted stronger same-store
sales growth than the flagship chain in recent quarters.
For the current quarter, the company expects same-store sales at
Jack in the Box company locations to be down 2% to flat, with the
low end of the guidance reflecting the heavy rainfall and flooding
in Houston, where 17% of its storefronts are located. Same-store
sales from Qdoba company locations are expected to be down 1% to up
1%.
In all, for the quarter ended April 10, the company earned $28.7
million, or 84 cents a share, compared with $23 million, or 60
cents a share, a year earlier. Operating earnings were 85 cents a
share. Analysts polled by Thomson Reuters projected earnings of 70
cents a share on that basis.
Revenue edged up slightly to $361.2 million. Analysts had
projected revenue of $360 million.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
May 11, 2016 17:45 ET (21:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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