Jack in the Box Inc. reported a steep drop in fourth-quarter net income as a result of heavy impairment charges related to the closure of 40 underperforming restaurants. Company officials said Jack in the Box continued to battle falling sales in its core West Coast market, while sister brand Qdoba saw sales rise in the quarter. For the Oct. 3-ended quarter, Jack in the Box's net income totaled $4.0 million, or 7 cents per share, compared with year-ago profit of $40.6 million, or 70 cents per ...
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