Jack in the Box income down 13% in quarter
August 06, 2008
by FoodBusinessNews.net Staff
SAN DIEGO — For the third quarter ended July 6, Jack in the Box, Inc. posted income of $29,916,000, equal to 52c per share on the common stock, down 13% from $34,524,000, equal to 55c per share, during the same quarter of the previous year.
Total revenue for the quarter was $709,503,000, up 4% from $680,203,000 during the same quarter of the previous year.
"Our Real Fruit Smoothies, which we began rolling out in April, have been very popular with guests and helped Jack in the Box improve upon the 2% same-store sales decrease we forecast in mid-May for the quarter," said Linda A. Lang, chairman and chief executive officer. "Same-store sales on a two-year cumulative basis remained strong and were up 7% at company Jack in the Box restaurants for the third quarter, which improved upon our 6.3% two-year cumulative increases in the second quarter. Although same-store sales in California, Phoenix and Las Vegas remained negative during the quarter, results were better on both a one-year and two-year cumulative basis as compared to the second quarter."
Net earnings for the nine months ended July 6 were $92,405,000, equal to $1.57 per share, down 6% from $98,815,000, equal to $1.48 per share, during the same period of the previous year. Revenue for the nine months was $2,307,959,000, up 5% from $2,197,562,000 during the same period of the previous year.