JACK - Why Jack in the Box Stock Was Diving Today
Shares of Jack in the Box (NASDAQ: JACK) were tumbling today after the fast-food chain offered disappointing guidance for the next year in its fiscal fourth-quarter earnings report.
As a result, the stock was down 15.2% as of 11:20 a.m. ET.
Jack in the Box's fourth-quarter results were actually in line with expectations. Same-store sales at Jack in the Box restaurants rose 4% in the quarter and were up 5.2% at Del Taco. Revenue jumped 44.6% to $402.8 million, due primarily to the acquisition of Del Taco earlier this year. That beat estimates at $392.7 million.
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Why Jack in the Box Stock Was Diving Today