Jack in the Box Inc. JACK shares rebounded in the after-hours session following its Q2 earnings beat.The company reported non-GAAP earnings per share of $0.85 vs. analyst estimates of $0.70.
Jack's premier asset, Qdoba, has continued to consolidate its position in the fast-casual dining market this quarter. Qdoba same-store sales "increased 2.1 percent system-wide and 3.1 percent for company restaurants in the second quarter." Franchise revenues as a whole improved to 53.8 percent in the second quarter from 51.7 percent in the prior year quarter.
The company also raised guidance for Q3. Here are a few other notable numbers:
- Jack's same-store sales approximately up 1 percent. Consolidated restaurant operating margin of 20-25 percent.
- Approximately 20 new Jack in the Box restaurants opening system-wide, the majority of which will be franchise locations.
- Approximately 50 to 60 new Qdoba restaurants, of which approximately half are expected to be company locations.
- SG&A as a percentage of revenue 13 to 13.5 percent as compared to 14.4 percent in fiscal 2015
Shares closed down 5.24 percent at $65.14, but recently popped up 9.78 percent at $71.33.
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