US EditionFast-food chain says it’s closing up to 200 locations after announcing expansion to Michigan
- Jack in the Box plans to close 150 to 200 underperforming restaurants to improve long-term financial performance and support sustainable growth in the coming years.
- CEO Lance Tucker stated that the closures are part of a block closure program aimed at positioning the company for net unit growth.
- Jack in the Box is considering selling the Del Taco brand, which it acquired for about $585 million in 2022, as part of its strategic adjustments.
- The company experienced a 4.4% decline in same-store sales for the second quarter and has forecasted operating earnings per share of $5.05 to $5.40 for fiscal year 2025.
60 Articles
60 Articles
Fast-food chain closing up to 200 'underperforming' locations
Jack in the Box announced that it plans to close 150 to 200 of its restaurants as it looks to boost the fast-food company’s financial performance.The company said Wednesday that the restaurants in the planned "block closure program" were ones that were "underperforming" and, in many cases, several decades old. "Our actions today focus on three main areas: addressing our balance sheet to accelerate cash flow and pay down debt, while preserving gr…
CEO makes stark admission after unveiling plans to close 200 locations
THE CEO of a fast-food chain has made a stark admission after revealing that up to 200 restaurants will close. Execs revealed a three-pronged strategy helped explain why the decision was taken to shutter the locations. GettyBosses of a fast-food chain have unveiled plans to close stores[/caption] Jack in the Box bosses are planning to close up to 200 restaurants. Between 80 and 120 restaurants are expected to shut by the end of the year. Execs…
Another One Bites the Dust: Jack in the Box Closing 150 – 200 Restaurants – California Globe
Jack in the Box antenna ball. (Photo: public domain) San Diego based Jack in the Box just announced it will be closing 150-200 restaurants “to improve long-term financial performance across its restaurant system, strengthen its balance sheet and demonstrate its commitment to running an asset-light business model — all of which will position the Company for sustainable growth in the coming years.” That’s an appropriate way of saying they are cons…
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