SAN DIEGO (CNS) – Jack in the Box Inc. today reported sharply lower
earnings for the second quarter of its fiscal year, which ended April 17,
compared to the same quarter the year before.
The fast-food company reported net income of $6.8 million, or 13 cents
per diluted share, compared to $17.7 million, or 32 cents per share, in the
second quarter of 2010.
Linda Lang, the company’s chairman and CEO, said bad weather in the
first four weeks of the quarter depressed earnings in major markets, but foot
traffic rebounded later in the quarter. She also said the company was hit by
higher costs for meat and dairy products, which were partially offset by lower
prices for poultry and baked goods.
“On a two-year basis, we’re continuing to see sequential improvement in
same-store sales with three consecutive quarters of improving trends,’ Lang
said.“ We believe the investments we have made in the business to enhance the
entire guest experience, along with employment growth, will drive improved
sales results at the Jack in the Box brand.’
The Qdoba restaurant brand increased same-store sales by 6 percent, she
The company currently operates or franchises 2,220 restaurants.
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