Business
Jack in the Box Inc. Reports Fourth Quarter and Full-Year 2022 Earnings
Jack in the Box same-store sales of +4.0% in Q4 2022, +0.9% for FY 2022 Del Taco same-store sales of +5.2% in Q4 2022, +3.9%(1) for FY 2022 Systemwide sales
About this update from Jack In The Box Inc.
[{"type":"text","content":"\nJack in the Box same-store sales of +4.0% in Q4 2022, +0.9% for FY 2022\n\nDel Taco same-store sales of +5.2% in Q4 2022, +3.9%(1) for FY 2022\n\nSystemwide sales of +4.1%(2) for Jack in the Box and +4.2%(2) for Del Taco in Q4 2022\n\nJack in the Box to open 25-30 restaurants, expects positive net unit growth in FY 2023\n\nJack in the Box completes refranchising of Nashville and Oregon evolving market restaurants, with development commitments for 42 new restaurants\n\nManagement provides company-wide and brand-specific annual guidance measures for FY 2023\n\n SAN DIEGO--(BUSINESS WIRE)--\nJack in the Box Inc. (NASDAQ: JACK) announced financial results for the Jack in the Box and Del Taco segments in the fourth quarter, ended October 2, 2022.\n\n“I am very pleased with the momentum of our top line performance to close 2022, which we have seen continue into the first several weeks of Q1, and the consistency we showed throughout the year in driving sales and improving traffic, as we continue to remain careful on the price we are taking to maintain a consistent value equation for our guests,” said Darin Harris, Jack in the Box chief executive officer. “We continue to navigate operational headwinds, but Jack and Del Taco franchisees and operators showed their ability to be resilient and manage through them effectively all throughout 2022. While we will continue to attack the inflationary impact on margins, our top line fundamentals, operational focus, and expectation for positive net unit growth for Jack all demonstrate that 2023 will be a big year for our company and another positive step in the transformation of the Jack brand. The investments we are making in digital, technology and training, plus the continued integration and refranchising of Del Taco, have me enthusiastic for our future.\"\n\nJack in the Box Performance\n\nSame-store sales increased 4.0% in the fourth quarter, comprised of an increase in Company-operated same-store sales of 11.4% and an increase in franchise same-store sales of 3.2%. Higher average check, driven mostly by pricing, and an increase in traffic drove the increase for company-operated while higher average check was partially offset by a decrease in traffic for franchise. Systemwide sales(2) for the fourth quarter increased 4.1%.\n\n\nAs of the fourth quarter, and since the launch of the development...