Jack in the Box Inc. Reports Third Quarter FY 2020 Earnings; Reinstates Quarterly Cash Dividend

About this update from Jack In The Box Inc.

[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nJack in the Box Inc. (NASDAQ: JACK) today reported financial results for the third quarter ended July 5, 2020.\n\n\n \n\n\n\nIncrease in same-store sales:\n\n\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n\n12 Weeks Ended\n\n\n\n \n\n\n\n40 Weeks Ended\n\n\n\n\n\n \n\n\n\n \n\n\n\n\n\n\nJuly 5, 2020\n\n\n\n \n\n\n\nJuly 7, 2019\n\n\n\n \n\n\n\nJuly 5, 2020\n\n\n\n \n\n\n\nJuly 7, 2019\n\n\n\n\n\n \n\n\n\nCompany\n\n\n\n\n\n\n4.1%\n\n\n\n \n\n\n\n2.8%\n\n\n\n \n\n\n\n1.2%\n\n\n\n \n\n\n\n1.2%\n\n\n\n\n\n \n\n\n\nFranchise\n\n\n\n\n\n\n6.9%\n\n\n\n \n\n\n\n2.7%\n\n\n\n \n\n\n\n1.5%\n\n\n\n \n\n\n\n0.8%\n\n\n\n\n\n \n\n\n\nSystem\n\n\n\n\n\n\n6.6%\n\n\n\n \n\n\n\n2.7%\n\n\n\n \n\n\n\n1.5%\n\n\n\n \n\n\n\n0.8%\n\n\n\n\n\nJack in the Box® system same-store sales increased 6.6 percent for the quarter. Company same-store sales increased 4.1 percent in the third quarter driven by average check growth of 20.2 percent while transactions decreased 16.1 percent.\n\n\nDarin Harris, chief executive officer, said, \"In my first six weeks as CEO, I have witnessed the nimbleness and passion within this brand. I am proud of the way our franchisees, the teams in our restaurants, our employees, and our partners have responded swiftly to the changing occasions of our consumers amidst the pandemic. Our strong performance in the third quarter is a testament to this agile approach. Our focus on value combined with indulgent and flavorful products continues to drive overall performance for the brand.\n\n\nThis strong performance accelerated throughout the third quarter, and has continued thus far into the fourth quarter. I am excited about taking the learnings from this uncertain time and using them to fuel the remaining part of 2020 as well as our strategy into 2021.\"\n\n\nEarnings from continuing operations were $32.2 million, or $1.40 per diluted share, for the third quarter of fiscal 2020 compared with $13.5 million, or $0.51 per diluted share, for the third quarter of fiscal 2019.\n\n\n\n\nOperating Earnings Per Share(1), a non-GAAP measure, were $1.37 in the third quarter of fiscal 2020 compared with $1.07 in the prior year quarter. A reconciliation of non-GAAP Operating Earnings Per Share to GAAP results is provided below, with additional information included in the attachment to this release.\n\n\n\n\n \n\n\n\n \n...

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