Comps rise at Jack in the Box, Qdoba
Same-store sales at Jack in the Box grew 6.2 percent year over year during the fourth quarter, rising on the introduction of new LTOs and strong growth seen in the “late night” daypart, according to the QSR chain.
This increase came as the chain conducted “essentially no discounting activity” during the first five weeks of Q4, Jack in the Box CEO Lenny Comma told investors Wednesday.
Comps at sister brand Qdoba increased 6.6 percent during the period, as a “simplified menu structure” drove higher check averages, Comma said. Catering sales at the fast-casual chain grew by double digits during the quarter, which offset a 0.3 percent slip in transactions.
During the quarter, Qdoba rebranded as Qdoba Mexican Eats, changing its name from Qdoba Mexican Grill, and doubled down on customizable offerings with the introduction of its Knockout Tacos line. The updated name is a better reflection of the flavors and variety Qdoba offers, Comma said.
Qdoba is also in the midst of planning its upcoming revamp efforts, which the chain noted last month would evolve “every aspect of the guest experience.” Comma said the chain aims to finalize its new store design in Q2 of 2016.
Net income for Jack in the Box, Inc. increased 43 percent year over year, rising to $23.1 million from $16.1 million.