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Jack in the Box net off 13%
August 5, 2008
SAN DIEGO — Jack in the Box Inc., which also operates and franchises Qdoba Mexican Grill through a wholly owned subsidiary, reported a 13.3 percent drop in net income for the third quarter ended July 6, 2008.
Same-store sales at Jack in the Box company restaurants fell 0.4 percent for the quarter, compared with last year's third-quarter increase of 7.4 percent. Jack in the Box same-store franchise sales were not included in the press release. Systemwide same-store sales at Qdoba Mexican Grill increased 0.5 percent for the quarter, compared with last year's increase of 5 percent for the same period.
Revenue for the quarter was $709.5 million, up 4 percent compared with revenue of $680.2million for the same quarter last year. Year-to-date revenues were $2.3 billion, down from $2.2 billion last year.
Net income for the quarter was $29.9 million compared with net income of $34.5 million in the same quarter last year. Year-to-date net income was $92.4 million, a drop of 6.5 percent from last year's $98.8 million.
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