Industry News | February 26, 2002

Jack in the Box Inc. Reports February Same-Store Sales

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Jack in the Box, Inc., operator and franchiser of Jack in the Box restaurants, reported that same-store sales for the four-week period ended Feb. 17 decreased .8 percent compared with February of fiscal 2001, which were 4.9 percent higher than the prior year. Through the first five periods of fiscal 2002, same-store sales increased .4 percent on top of a 4.4 percent increase for the same period last year.

"As we mentioned on our recent earnings call, certain markets, such as the Bay area and Austin, Tex., have been adversely affected by the downturn in the high-tech industry, and we've also experienced some sales softness in markets dependent on tourism, such as Las Vegas,'' said Robert J. Nugent, chairman and CEO. "Additionally, sales slowed in the latter part of fiscal February during the Winter Olympics, suggesting that some of our guests were opting to watch television coverage of the Games rather than dine out.

"Looking forward, we are announcing three new products during the balance of the quarter, and along with a strong, supporting promotional calendar, we continue to have confidence that our same-store sales will grow approximately 1 percent, and that we'll meet our recent earnings estimates of approximately 44 cents for the second quarter and approximately $2.24 for the fiscal year.''

Founded in 1951, Jack in the Box operates or franchises more than 1,800 quick-serve restaurants in 16 states.