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Since the middle of March, Jack In The Box (JACK) has bounced off strongly, from $18.60 per share to $65.40 per share, delivering shareholders return of more than 250%. The market sentiment is good for Jack. However, because of the declining same-store sales, and high valuation, we do not think Jack is cheap anymore.
Declining second-quarter operating performance
Jack In The Box is the operator and franchisor of 2,243 fast-food restaurants across the U.S. Most of its restaurants are franchised. It is quite a sufficient strategy for rapid expansion as the company could