Business
Jack in the Box Inc. Reports Fourth Quarter and Full-Year 2021 Earnings
Systemwide sales growth +8.6% in Q4 2021; +13.1% FY 2021 Same store sales growth +0.1% in Q4 2021; +10.3% FY 2021 Diluted EPS +9.8% at $1.80 in Q4 2021;
About this update from Jack In The Box Inc.
[{"type":"text","content":"\nSystemwide sales growth +8.6% in Q4 2021; +13.1% FY 2021\n\nSame store sales growth +0.1% in Q4 2021; +10.3% FY 2021\n\nDiluted EPS +9.8% at $1.80 in Q4 2021; +91.0% at $7.37 FY 2021(1)\n\nNet units down -1.0% FY 2021\n\nManagement provides annual guidance measures for FY 2022\n\nManagement provides restaurant level margin outlook for FY 2022\n\nManagement provides company-owned restaurant outlook for 2022 and 2023\n\n SAN DIEGO--(BUSINESS WIRE)--\nJack in the Box Inc. (NASDAQ: JACK) announced financial results for the fourth quarter ended October 3, 2021, comprised of growth in systemwide sales, same store sales and earnings per share.\n\n\"I am very proud of the execution and determination shown by our outstanding franchisees and corporate team members, continuing to deliver for our guests during a challenging operating environment,” said Darin Harris, Jack in the Box Chief Executive Officer. “We closed the year with strong comps on a two-year basis of +12.3% in Q4, leading us to another record-setting year of store-level profitability — a key element in driving results against our growth strategy in the near future. We continue to focus heavily on making significant progress on our strategic pillars, growth objectives, and unlocking substantial value for JACK shareholders.\"\n\nSystemwide sales for the fourth quarter increased 8.6%, or 0.2% when excluding the 53rd week for the purpose of comparison to the prior year, driven by positive results in same store sales and partially offset by a slight decline in net unit growth. Systemwide sales for full year 2021 increased 13.1%, or 11.0% when excluding the 53rd week.\n\nThe company had a fourth quarter net store decline of one store, comprised of four store openings and five closures. The five store closures included one company-owned location and four related to early terminations and an agreement expiration. In the fourth quarter, there were development agreements signed for 47 future restaurants, bringing the year-to-date total to 111 future restaurant commitments.\n\nCompany-operated same-store sales declined 4.4% in the fourth quarter, with decreases in traffic partially offset by increases in average check. Franchise same-store sales grew 0.6%, with increases in average check; partially offset by a decrease in traffic.\n\n\n\n\n(1) Fiscal year 2020 Diluted EPS included no...