Jack in the Box Inc. (JACK) , known for its diverse portfolio in the fast-food industry, is pushing forward with its aggressive expansion strategy, particularly through its Del Taco brand. The company announced the opening of a new Del Taco location at 3209 E Colonial Drive in Orlando, FL. This company-owned location is the sixth Del Taco in Orlando and one of six new Del Taco restaurants slated to open in Florida this year.The new Orlando outlet features Del Taco’s modern Fresh Flex design, aimed at enhanc ...

Core Insights - Del Taco has opened a new location in Orlando, Florida, marking its sixth restaurant in the area and part of a broader expansion in the state with six new openings this year [1][2] - The new restaurant features a modernized Fresh Flex design, including dual drive-thru lanes and order pick-up lockers, enhancing customer convenience [1] - Del Taco's menu includes a variety of items made with high-quality ingredients, emphasizing fresh preparation in-house [2][4] Expansion and Community Engagement - The opening aligns with Del Taco's 60th anniversary and reflects the company's commitment to expanding its presence in Florida [2] - The company aims to strengthen its connection with the Orlando community by welcoming both returning and new customers [2] Menu Highlights - The new location will offer Del Taco's classic menu, including tacos, Epic Burritos®, quesadillas, and the return of the beef birria menu, available for a limited time [3] - The beef birria is prepared with traditional spices and served with flavorful consomé broth, available in various dishes [3] Company Overview - Founded in 1964, Del Taco operates nearly 600 restaurants across 16 states, serving over three million guests weekly [4] - The company prides itself on using quality ingredients and preparing menu items from scratch, ensuring better taste and value for customers [4]

Core Viewpoint - Jack In The Box reported mixed Q2 fiscal 2024 results, with earnings exceeding estimates but revenues falling short, indicating potential challenges ahead [2][3]. Earnings & Revenues Details - Operating earnings per share (EPS) for Q2 were $1.46, surpassing the Zacks Consensus Estimate of $1.43, but down 0.7% from $1.47 in the prior year [3]. - Quarterly revenues totaled $365.3 million, missing the consensus mark of $370 million by 1.2%, and declined 7.7% year-over-year, primarily due to Del Taco's refranchising efforts [3]. - Franchise rental revenues increased by 2.8% year-over-year to $85.8 million, while franchise royalties and other revenues rose by 2% to $55.1 million, exceeding projections [3]. Comps Discussion - Same-store sales at Jack In The Box stores fell by 0.6% year-over-year, contrasting with a 10.6% growth in the prior year [5]. - Franchised store same-store sales declined by 2.6% year-over-year, compared to a 9.4% increase in the previous year [5]. - Systemwide same-store sales decreased by 2.5% year-over-year, down from 9.5% growth reported a year ago, attributed to reduced transactions and a delay in product launches [5]. Operating Highlights - The total restaurant-level adjusted margin improved to 20.8% from 19.2% in the prior year, driven by additional company-owned restaurants and commodity deflation [7]. - Food and packaging costs as a percentage of company restaurant sales decreased by 180 basis points to 27.5% [7]. - Selling, general, and administrative expenses accounted for 10.3% of total revenues, slightly above the estimated 10.2% [8]. Balance Sheet - As of April 14, 2024, cash stood at $20.2 million, down from $157.7 million on October 1, 2023, while long-term debt was $1.71 billion [9]. - The company repurchased 0.2 million shares for $15 million during the quarter and has $210 million available under its share repurchase program [9]. - A cash dividend of 44 cents per share was declared, payable on June 25, 2024 [9]. Fiscal 2024 Outlook - For fiscal 2024, the company anticipates Adjusted EBITDA between $325 million and $330 million, with same-store sales expected to be flat to low single digits [10]. - Operating EPS for fiscal 2024 is projected to be in the range of $6.25 to $6.40 [10]. - Consensus estimates have trended downward, with a shift of -6.01% noted [10]. VGM Scores - Jack In The Box has a poor Growth Score of F and a similar score for momentum, but a strong value score of A, placing it in the top quintile for value investment strategy [11]. Industry Performance - Jack In The Box operates within the Zacks Retail - Restaurants industry, where competitor Starbucks reported a revenue decline of 1.8% year-over-year [13]. - Starbucks' EPS for the last quarter was $0.68, down from $0.74 a year ago, with a projected earnings decline of 6% for the current quarter [13].

Jack in the Box Inc. (JACK) announced an ambitious plan to open 15 new locations in Georgia. This significant development agreement marks the company's first foray into the Peach State, underscoring its strategic expansion in the Southeastern United States.Tim Linderman, JACK's chief development officer, highlighted that this franchise commitment represents a substantial advancement in the company's growth strategy. Jack in the Box's 24/7 menu is set to attract Georgia's thriving business environment and ro ...

Jack in the Box Inc. (JACK) continues to secure development agreements with new franchisees in Florida. The company recently secured new franchise commitments with expansion plans in Tallahassee and Orlando.Florida's significant population growth and business-friendly environment are considered key factors for driving the expansion. JACK secured more than 400 new franchise commitments in the past three years, nearly 10% of which are planned for Florida.The franchise expansion details include future developm ...

TALLAHASSEE, Fla., May 30, 2024 (GLOBE NEWSWIRE) -- Today Del Taco, the nation's second-largest Mexican quick service restaurant,* announced the opening of its new Fresh Flex location at 2410 Apalachee Parkway, Tallahassee, FL 32301. This marks Del Taco's tenth location in Florida and the third restaurant for franchise organization, Consolidated Taco Holdings, now expanding their footprint in the state capital. The location is designed in Del Taco's signature Fresh Flex layout, a bold, modernized design wit ...

Jack in the Box Inc. (JACK) is likely to benefit from franchise developments, digital initiatives and menu innovation. Also, its focus on the CRAVED reimage program bodes well. However, dismal comps and wage inflation are a concern.Let us discuss the factors that highlight why investors should retain the stock now.Growth CatalystsJACK continues to collaborate with its franchisees and leverage guest insights to ensure value remains a competitive advantage for both brands. During second-quarter fiscal 2024, J ...

Core Insights - Del Taco has opened its newest Fresh Flex location in Port Orange, Florida, marking its first establishment in the area and the second owned by the Singh Group [1][2] - The new restaurant features modern design elements, upgraded amenities, and extended operating hours, serving customers from 10 a.m. to 12 a.m. on weekdays and until 2 a.m. on weekends [1][2] Company Overview - Del Taco is the second-largest Mexican quick service restaurant in the U.S., serving over three million guests weekly across nearly 600 locations in 16 states [4] - The menu includes a variety of Mexican and American favorites, with a focus on high-quality ingredients prepared fresh in-house [4] Menu and Quality - The restaurant offers a classic menu featuring tacos, Epic Burritos®, quesadillas, beverages, and Crinkle-Cut fries, all made with fresh ingredients like grilled chicken, carne asada steak, and house-made guacamole [2][4] - Del Taco emphasizes its commitment to quality by preparing menu items from scratch, ensuring better taste and value for customers [4]

Core Insights - Del Taco is celebrating its 60th anniversary by reintroducing popular menu items, including Nacho Cheese and Shredded Beef Birria, to enhance customer engagement and drive sales [1][2][3] Product Offerings - The returning menu items include: - Shredded Beef Birria Tacos with consomé dip - Shredded Beef Birria Quesadilla with consomé dip - Shredded Beef Birria Ramen - New Shredded Beef Birria Grilled Combo Burrito with consomé dip [2] - Nacho Cheese items being reintroduced are: - Macho Nachos® with various toppings - Nacho Cheese Fries - Chips & Nacho Cheese [3] Promotions - Del Yeah!™ Rewards members can receive a free Snack-Sized Chips & Nacho Cheese with a minimum $3 purchase from May 16 to May 22, 2024 [3][4] Company Background - Founded in 1964, Del Taco operates nearly 600 restaurants across 16 states, serving over three million guests weekly [5] - The company emphasizes quality ingredients and fresh preparation methods, aligning with its "Better Mex" promise [5]

Core Insights - Del Taco is celebrating its 60th anniversary by reintroducing popular menu items, including Nacho Cheese and Shredded Beef Birria, to enhance customer engagement and drive sales [1][2][3] Product Offerings - The returning menu items include: - Shredded Beef Birria Tacos with consomé dip - Shredded Beef Birria Quesadilla with consomé dip - Shredded Beef Birria Ramen - New Shredded Beef Birria Grilled Combo Burrito with consomé dip [2] - Nacho Cheese items being reintroduced are: - Macho Nachos® with various toppings - Nacho Cheese Fries - Chips & Nacho Cheese [3] Promotions - Del Yeah!™ Rewards members can receive a free Snack-Sized Chips & Nacho Cheese with a minimum $3 purchase from May 16 to May 22, 2024 [3][4] Company Background - Founded in 1964, Del Taco operates nearly 600 restaurants across 16 states, serving over three million guests weekly [5] - The company emphasizes quality ingredients and freshly prepared menu items, aligning with its "Better Mex" promise [5]