Jack in the Box Inc. reported on Wednesday that profit rose 56 percent in the Jan. 19-ended first quarter, increasing to $32.3 million from $20.7 million in the prior-year period.
Revenue at the San Diego, Calif.-based company, which also owns the Qdoba Mexican Grill fast-casual concept, fell 0.9 percent, dipping to $450.1 million from $454.3 million in the same quarter last year. The company had closed 62 company-operated Qdoba units in June 2013.
Jack in the Box owns and franchises more than 2,250 restaurants in 21 states. Through a subsidiary, the company also owns and franchises more than 600 Qdoba units in 46 states, the District of Columbia and Canada.
NET INCOME
Result: $32.3 million, or 74 cents per share% Increase: 56.0% (from $20.7 million, or 47 per share)
REVENUE
Result: $450.1 million% Decrease: 0.9% (from $453.3 million)
JACK IN THE BOX SAME-STORE SALES
% Increase systemwide: 1.9%
% Increase at company-owned units: 2.1%
% Increase at franchised units: 1.8%
QDOBA SAME-STORE SALES
% Increase systemwide: 2.3%
% Increase at company-owned units: 2.0%
% Increase at franchised units: 2.6%
Source: Company report
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