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Jack in the Box Q1 earnings $37.1 million

Staff writer ▼ | February 18, 2015
Jack in the Box Inc. reported earnings from continuing operations of $37.1 million, or $0.94 per diluted share, for the first quarter ended January 18, 2015.
Jack in the Box
Jack in the Box   $0.94 per diluted share
This compared with earnings from continuing operations of $33 million, or $0.75 per diluted share, for the first quarter of fiscal 2014.

Operating earnings per share, a non-GAAP measure which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains or losses from refranchising, were $0.93 in the first quarter of fiscal 2015 compared with $0.75 in the prior year quarter.

Jack in the Box system same-store sales growth for the quarter of 4.4 percent exceeded that of the QSR sandwich segment by 3.4 percentage points for the comparable period, according to The NPD Group’s SalesTrack Weekly for the 16-week time period ended January 18, 2015. Included in this segment are 16 of the top QSR sandwich and burger chains in the country.

Consolidated restaurant operating margin increased by 100 basis points to 19.3 percent of sales in the first quarter of 2015, compared with 18.3 percent of sales in the year-ago quarter.

Restaurant operating margin for Jack in the Box restaurants increased 30 basis points to 19.4 percent of sales. The improvement was due primarily to sales leverage and the benefit of refranchising, which were partially offset by commodity inflation of approximately 3.9 percent and the impact of the increase in the California minimum wage in July 2014.

Restaurant operating margin for Qdoba restaurants increased 290 basis points to 19.3 percent of sales, due primarily to sales leverage, including the benefit of the new menu pricing structure, which was partially offset by commodity inflation of approximately 6.2 percent.


 

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