News

Jack-in-the-Box, Qdoba report 'better than expected' same-store sales

Jack in the Box Inc. reported earnings from continuing operations of $37.1 million, or $0.94 per diluted share, for Q1 ended January 18, 2015, compared with earnings from continuing operations of $33.0 million, or $0.75 per diluted share, for Q1 of fiscal 2014.

February 23, 2015

Jack in the Box Inc. reported earnings from continuing operations of $37.1 million, or $0.94 per diluted share, for Q1 ended Jan. 18, compared with earnings from continuing operations of $33.0 million, or $0.75 per diluted share, for Q1 of fiscal 2014, the company announced.

Q1 operating earnings per share, a non-GAAP measure defined as earnings per share from continuing operations on a GAAP basis, excluding restructuring charges and gains or losses from refranchising, were $0.93 in fiscal 2015 and $0.75 in the prior year quarter, the company said.

Lenny Comma, chairman and chief executive officer, said in a press release, "We had a great first quarter, with a 24 percent increase in operating earnings per share resulting from better than expected same-store sales growth at both Jack in the Box and Qdoba Mexican Grill, margin expansion and a 10 percent reduction in our diluted share count as we continued to use our growing free cash flow to return cash to shareholders.

"Jack in the Box company same-store sales increased 3.9 percent for the quarter, as we experienced a significant acceleration in trends in the last half of the quarter. Transactions were positive, and sales increased across all dayparts, with breakfast and late night remaining the strongest,” he said.

Same-store sales growth of 4.4 percent exceeded that of the QSR sandwich segment by 3.4 percentage points for the comparable period, according to The NPD Group’s SalesTrack, the announcement said.

"Qdoba same-store sales in the first quarter increased 12.9 percent for company restaurants and 14.0 percent system-wide, as the implementation of our new simplified menu pricing structure was well received by our guests. In addition, company same-store sales reflected positive traffic, less discounting and double-digit growth in catering sales," Comma concluded.