Wednesday, May 12, 2010
Jack in the Box Inc. Reports Second Quarter FY 2010 Earnings; Updates Guidance for FY 2010
SAN DIEGO--(BUSINESS WIRE)--Jack in the Box Inc. (NASDAQ:JACK - News) today reported net earnings of $17.7 million, or 32 cents per diluted share, for the second quarter ended April 11, 2010, compared with earnings from continuing operations of $29.6 million, or 51 cents per diluted share, for the second quarter of fiscal 2009. The decline in diluted earnings per share was due primarily to a decrease of approximately 15 cents per share in gains on the sale of company-operated Jack in the Box® restaurants as a result of the timing of such transactions
Same-store sales at Jack in the Box company restaurants decreased 8.6 percent in the second quarter of 2010 compared with a year-ago increase of 0.4 percent.
Linda A. Lang, chairman, chief executive officer and president, said, “California experienced continued stabilization and was our best performing market for the second quarter on both a one- and two-year basis. Although both transactions and average check improved from the first quarter, we don’t expect significant improvement in underlying fundamentals until high unemployment rates in our major markets for our key customer demographics begin to improve.”
System same-store sales at Qdoba Mexican Grill® increased 3.1 percent in the second quarter versus a year-ago decrease of 2.3 percent. Lang said, “After beginning the quarter with negative same-store sales resulting from severe winter weather, Qdoba’s same-store sales improved steadily throughout the quarter, and benefitted from both our new Craft 2™ menu and increased spending by consumers in the fast-casual segment.”
Consolidated restaurant operating margin was 15.2 percent of sales in the second quarter of 2010, compared with 16.5 percent of sales in the year-ago quarter. The company estimates that sales deleverage negatively impacted margins by approximately 190 basis points in the second quarter of 2010.
Same-store sales at Jack in the Box company restaurants decreased 8.6 percent in the second quarter of 2010 compared with a year-ago increase of 0.4 percent.
Linda A. Lang, chairman, chief executive officer and president, said, “California experienced continued stabilization and was our best performing market for the second quarter on both a one- and two-year basis. Although both transactions and average check improved from the first quarter, we don’t expect significant improvement in underlying fundamentals until high unemployment rates in our major markets for our key customer demographics begin to improve.”
System same-store sales at Qdoba Mexican Grill® increased 3.1 percent in the second quarter versus a year-ago decrease of 2.3 percent. Lang said, “After beginning the quarter with negative same-store sales resulting from severe winter weather, Qdoba’s same-store sales improved steadily throughout the quarter, and benefitted from both our new Craft 2™ menu and increased spending by consumers in the fast-casual segment.”
Consolidated restaurant operating margin was 15.2 percent of sales in the second quarter of 2010, compared with 16.5 percent of sales in the year-ago quarter. The company estimates that sales deleverage negatively impacted margins by approximately 190 basis points in the second quarter of 2010.
Jack in the Box Inc. Reports Second Quarter FY 2010 Earnings; Updates Guidance for FY 2010
SAN DIEGO--(BUSINESS WIRE)--Jack in the Box Inc. (NASDAQ:JACK - News) today reported net earnings of $17.7 million, or 32 cents per diluted share, for the second quarter ended April 11, 2010, compared with earnings from continuing operations of $29.6 million, or 51 cents per diluted share, for the second quarter of fiscal 2009. The decline in diluted earnings per share was due primarily to a decrease of approximately 15 cents per share in gains on the sale of company-operated Jack in the Box® restaurants as a result of the timing of such transactions
Same-store sales at Jack in the Box company restaurants decreased 8.6 percent in the second quarter of 2010 compared with a year-ago increase of 0.4 percent.
Linda A. Lang, chairman, chief executive officer and president, said, “California experienced continued stabilization and was our best performing market for the second quarter on both a one- and two-year basis. Although both transactions and average check improved from the first quarter, we don’t expect significant improvement in underlying fundamentals until high unemployment rates in our major markets for our key customer demographics begin to improve.”
System same-store sales at Qdoba Mexican Grill® increased 3.1 percent in the second quarter versus a year-ago decrease of 2.3 percent. Lang said, “After beginning the quarter with negative same-store sales resulting from severe winter weather, Qdoba’s same-store sales improved steadily throughout the quarter, and benefitted from both our new Craft 2™ menu and increased spending by consumers in the fast-casual segment.”
Consolidated restaurant operating margin was 15.2 percent of sales in the second quarter of 2010, compared with 16.5 percent of sales in the year-ago quarter. The company estimates that sales deleverage negatively impacted margins by approximately 190 basis points in the second quarter of 2010.
Same-store sales at Jack in the Box company restaurants decreased 8.6 percent in the second quarter of 2010 compared with a year-ago increase of 0.4 percent.
Linda A. Lang, chairman, chief executive officer and president, said, “California experienced continued stabilization and was our best performing market for the second quarter on both a one- and two-year basis. Although both transactions and average check improved from the first quarter, we don’t expect significant improvement in underlying fundamentals until high unemployment rates in our major markets for our key customer demographics begin to improve.”
System same-store sales at Qdoba Mexican Grill® increased 3.1 percent in the second quarter versus a year-ago decrease of 2.3 percent. Lang said, “After beginning the quarter with negative same-store sales resulting from severe winter weather, Qdoba’s same-store sales improved steadily throughout the quarter, and benefitted from both our new Craft 2™ menu and increased spending by consumers in the fast-casual segment.”
Consolidated restaurant operating margin was 15.2 percent of sales in the second quarter of 2010, compared with 16.5 percent of sales in the year-ago quarter. The company estimates that sales deleverage negatively impacted margins by approximately 190 basis points in the second quarter of 2010.
Childhood Obesity
Childhood obesity has more than tripled in the past 30 years. The prevalence of obesity among children aged 6 to 11 years increased from 6.5% in 1980 to 19.6% in 2008. The prevalence of obesity among adolescents aged 12 to 19 years increased from 5.0% to 18.1%.1,2
Obesity is the result of caloric imbalance (too few calories expended for the amount of calories consumed) and is mediated by genetic, behavioral, and environmental factors.3,4 Childhood obesity has both immediate and long-term health impacts:
Obese youth are more likely to have risk factors for cardiovascular disease, such as high cholesterol or high blood pressure. In a population-based sample of 5- to 17-year-olds, 70% of obese youth had at least one risk factor for cardiovascular disease.5
Children and adolescents who are obese are at greater risk for bone and joint problems, sleep apnea, and social and psychological problems such as stigmatization and poor self-esteem.3,6
Obese youth are more likely than youth of normal weight to become overweight or obese adults, and therefore more at risk for associated adult health problems, including heart disease, type 2 diabetes, stroke, several types of cancer, and osteoarthritis.6
Healthy lifestyle habits, including healthy eating and physical activity, can lower the risk of becoming obese and developing related diseases.3
Make a Difference at Your School: Key Strategies to Prevent Obesity outlines 10 evidence-based strategies for schools to implement in addressing childhood obesity.
The Body Mass Index Measurement in Schools article describes the purpose of school-based BMI surveillance and screening programs, examines current practices, and reviews research on BMI measurement programs. The article summarizes the recommendations of experts, identifies concerns surrounding programs, and outlines needs for future research. Guidance is provided on specific safeguards that need to be addressed before schools decide to collect BMI information
Obesity is the result of caloric imbalance (too few calories expended for the amount of calories consumed) and is mediated by genetic, behavioral, and environmental factors.3,4 Childhood obesity has both immediate and long-term health impacts:
Obese youth are more likely to have risk factors for cardiovascular disease, such as high cholesterol or high blood pressure. In a population-based sample of 5- to 17-year-olds, 70% of obese youth had at least one risk factor for cardiovascular disease.5
Children and adolescents who are obese are at greater risk for bone and joint problems, sleep apnea, and social and psychological problems such as stigmatization and poor self-esteem.3,6
Obese youth are more likely than youth of normal weight to become overweight or obese adults, and therefore more at risk for associated adult health problems, including heart disease, type 2 diabetes, stroke, several types of cancer, and osteoarthritis.6
Healthy lifestyle habits, including healthy eating and physical activity, can lower the risk of becoming obese and developing related diseases.3
Make a Difference at Your School: Key Strategies to Prevent Obesity outlines 10 evidence-based strategies for schools to implement in addressing childhood obesity.
The Body Mass Index Measurement in Schools article describes the purpose of school-based BMI surveillance and screening programs, examines current practices, and reviews research on BMI measurement programs. The article summarizes the recommendations of experts, identifies concerns surrounding programs, and outlines needs for future research. Guidance is provided on specific safeguards that need to be addressed before schools decide to collect BMI information
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