Jack in the Box up 5% on Strong Q1 Results

Jack in the Box JACK is trading higher on the session following its Q1 earnings announcement. The company reported an EPS of Q2 EPS $0.48 vs $0.32 estimates and revenues of $506.6 million vs $502.86 million estimates. Linda A. Lang, chairman and chief executive officer, said, “Jack in the Box company same-store sales increased 5.6 percent in the second quarter, driven by a combination of traffic growth and an increase in average check. We believe these results have been largely driven by the investments we have made to enhance the entire guest experience at the Jack in the Box brand, including the substantial completion of our system-wide re-image program in January." Jack in the Box is currently trading at $23.59, a gain of $1.14 or 5.08%.