Jack in the Box posts higher Q1 profit, sales


By Kimberly Chin, MarketWatch

Feb. 17, 2021


Jack in the Box Inc. said profit rose in the first quarter of fiscal 2021 as sales climbed 10% driven by demand for premium products, including the company's recent launch of chicken sandwich and strips.


The San Diego, Calif.-based fast-food restaurant chain made a quarterly profit of $50.9 million for the quarter ended Jan. 17, up from $7.9 million in the same period a year ago. Earnings were $2.21 a share, compared with 33 cents a share last year.


Excluding special items, Jack in the Box had an adjusted profit of $2.16 a share, beating analysts' consensus forecast of $1.77 a share, per a FactSet poll.


Sales rose to $338.5 million from $307.7 million a year earlier, roughly in line with analysts' consensus projections.


System same-store sales...