SAN DIEGO — Jack in the Box Inc., which operates and franchises the Jack in the Box and Qdoba Mexican Grill restaurant concepts along with Quick Stuff convenience stores, reported record earnings for the first quarter ended Jan. 21.
Same-store sales, or sales at Jack in the Box company restaurants open at least a year, increased 5.6 percent in the first quarter, compared with a comps increase of 5.5 percent in the first quarter of 2006. System-wide comps at Qdoba Mexican Grill increased 4.1 percent in the first quarter compared with a 7.9 percent increase in last year's first quarter.
Revenues for the first quarter were $857.7 million, up 5.5 percent compared with $813 million in the first quarter of 2006. Net income increased 48 percent to $37.4 million from $25.2 million in last year's first quarter.
Ten company and franchised Jack in the Box restaurants opened in the first quarter, along with 2 new Quick Stuff convenience stores. Qdoba opened 29 company and franchised restaurants in the first quarter.
At the end of the first quarter, the company's system comprised of 2,088 company- and franchise-owned Jack in the Box restaurants, including 57 Quick Stuff convenience stores, and 344 company and franchised Qdoba restaurants.
