Q1 2025 Jack in the Box Inc Earnings Call Transcript
Key Points
- Jack In The Box Inc (JACK) reported positive same-store sales growth of 40 basis points in Q1, despite challenging macroeconomic conditions.
- The company successfully navigated the COVID-19 pandemic and made significant investments in its technology stack, enhancing its digital competitiveness.
- Jack In The Box Inc (JACK) plans to open between 35 and 45 new restaurants in fiscal year 2025, including expansions into Chicago and Florida.
- The company completed a new beverage partner contract, which positively impacted restaurant-level margins by 200 basis points in Q1.
- Del Taco's menu optimization initiative has shown encouraging results, driving higher attach rates and better average checks.
- Jack In The Box Inc (JACK) expects negative same-store sales results for both brands in Q2 due to ongoing macroeconomic pressures.
- The company experienced a decrease in GAAP diluted earnings per share, from $1.93 in the prior year to $1.75 in Q1 2025.
- Del Taco faced a challenging quarter with pressured same-store sales results and is also expected to post negative same-store sales in Q2.
- Jack In The Box Inc (JACK) reduced its share repurchase allocation from $20 million to $5 million for the fiscal year.
- The company anticipates a slight reduction in capital expenditures, adjusting the range to $100 million to $105 million for the year.
Thank you for standing by, and good day everyone. My name is RZ, and I will be your conference operator today. At this time, I would like to welcome everyone to the Jack in the Box first-quarter 2025 earnings webcast. (Operator Instructions)
Thank you. I would now like to turn the call over to Chris Brandon, Vice President of Investor Relations. Please go ahead.
Thanks, operator, and good morning, everyone. We appreciate you joining today's conference call, highlighting results from our first quarter 2025. With me today is our new Interim Principal Executive Officer, Lance Tucker, as well as Dawn Hooper, who will again serve as our Interim Principal Financial Officer. On the heels of recent company events related to yesterday's leadership announcement, we will be taking a limited number of questions from our covering cells side analysts than usual, following our scripted remarks.
Note that during both our discussion in Q&A, we may refer to certain non-GAAP items.
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