JACK - Jack in the Box outperforms fast-food peers ramps up development agreements

Jack in the Box (NASDAQ:JACK) fell in early trading on Wednesday after a slight miss with its FQ1 revenue tally. System same-store sales increased 1.2% during the quarter, comprised of franchise same-store sales of 1.4%, with increases in average check partially offset by a decrease in traffic, and company-operates same-store sales growth of -0.3%. The restaurant operator said there were 26 development agreements signed for 98 future restaurants during the quarter to bring the total number of agreements to 50 and future restaurant commitments to 201 since the franchise development program launched in the middle part of 2021 Cowen reiterated an Outperform rating on JACK after taking in the results. Analyst Andrew Charles: "We are pleased by the 1Q same store sales beat while better than expected G&A offset lower than expected restaurant margins. JACK outperformed the MillerPulse quick service index by ~290 bps during the quarter. The company net

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Jack in the Box outperforms fast-food peers, ramps up development agreements