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Financing

Black Box: Restaurant sales tumble in July

Industry same-store sales declined 1%, its worst performance in nearly two years as chains feel a summer lull.

Financing

Improving sales sends Jack in the Box stock soaring

Thanks to value bundles, the burger chain’s same-store sales rose to their best level since 2016.

The closures, which the chain says are temporary and will be refranchised, come as same-store sales continue to fall.

The company’s 5.7% U.S. same-store sales growth was its highest since 2015 as the company’s strategies bear fruit. But guest counts are still falling.

Despite a booming economy, the industry has been hit with high labor costs and falling traffic, but things are looking up.

Second quarter sales also slowed as falling traffic continued to be a problem.

Operators are asking the company to develop a better chicken sandwich as its traffic in the Southeast stalls.

The company has shuttered 10% of its locations amid sales challenges and a "multi-faceted transformation."

But the company recorded its fifth straight quarterly increase as it nears a reverse merger that will take it public.

The company said it sold 40 million more Quarter Pounders in the first quarter than it did a year ago.

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