The popular fast food chain Jack in the Box (JACK) has reported earnings of $37.1 million for the first quarter ended January 2015. Last year’s first quarter earnings were $33.0 million. Lenny Comma, chairman and CEO of Jack in the Box said, “Jack in the Box company same-store sales increased 3.9 percent for the quarter, as we experienced a significant acceleration in trends in the last half of the quarter. Transactions were positive, and sales increased across all dayparts, with breakfast and late night remaining the strongest.”
Is it the company’s new bacon milkshakes that have sales soaring? More likely it’s the company restructuring that’s working. In September 2010, 40 under-performing company-owned Jack in the Box restaurants – located mostly in Texas and the Southeast were closed. Back then, a spokesperson for the Jack said, “These restaurant closures are expected to have a positive impact on our future.” Today there are 2200 locations in 18 states.
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