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Jack in the Box fiscal 3Q19: Key Points

  • Fiscal 3Q19 system comps increased +2.7% & a +2.8% company store comp included +2.3% pricing and +0.5% mix with flat traffic. Improvement in traffic & sales trends reflects a greater emphasis on bundled value deals with guests responding well to the breadth of promotions (including new product innovation & guest favorites). Also, sales benefitted from operational execution & marketing which well supported its 3 bundle deal promotions during the quarter.
  • New value strategy: Primary fiscal 3Q promotion was $4.99 combo featuring Jack's new spicy chicken strips. Most markets also featured a $4.99 triple bonus Jack combo including signature curly product. Jack also brought back a guest favorite, its 2 for $4 breakfast croissants. The average check for its value combos was significantly higher than other orders due to upsell add-ons (helping margins). Jack also plans to add permanent everyday value menu items to help offset its recent past increase to its taco pricing. The brand has learned from its past practice of bundling & discounting core items which led to trade-down. 

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