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Jack In The Box Inc Comments On Q4 2013 Same Store Sales Guidance; Lowers FY 2013 Same Store Sales Guidance; Raises FY 2013 EPS Guidance; Announces Management Changes


Wednesday, 7 Aug 2013 04:01pm EDT 

Jack In The Box Inc announced that for fourth quarter of 2013, it expects same-store sales to be slightly positive at Jack in the Box company restaurants versus a 3.1% increase in the year-ago quarter. For fiscal 2013, it expects same-store sales to increase approximately 1% at Jack in the Box company restaurants. Operating earnings per share, which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains from refranchising, are now expected to range from $1.72 to $1.78 in fiscal 2013 as compared to operating earnings per share of $1.31 in fiscal 2012. The increase in the company's guidance for operating earnings per share is due primarily to the Qdoba closures. Diluted earnings per share includes approximately $0.03 of incentive payments to Jack in the Box franchisees in fiscal 2013 to complete the installation of new signage as compared to $0.11 in fiscal 2012 to complete the re-image program. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.65 for fiscal 2013. The Company also announced that Linda A. Lang will retire as the Company`s Chairman of the Board and Chief Executive Officer, effective Jan. 1, 2014. Leonard A. Comma, currently President and Chief Operating Officer, will become Chairman, CEO and President of Jack in the Box Inc. at that time. 

Company Quote

57.29
1.37 +2.45%
22 Jul 2014