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QSR chain Jack in the Box has reported 1.2% positive same-store sales for the first quarter of 2022.

Jack in the Box sees positive same-store sales growth for quarter

The quick-service brand added 98 new franchise agreements to the pipeline during the start of the fiscal year

Quick-service chain Jack in the Box saw 1.2% growth in same-store sales during the first quarter of 2022, the restaurant announced on Wednesday during its earnings call.

“I am proud of the resilience demonstrated by our franchisees, operators and corporate team members in delivering for our guests during a difficult period,” Jack in the Box CEO Darin Harris said in a release. “We remain highly focused on fundamentals, franchisee health and showing progress on our long-term restaurant growth goals.”

The first quarter of 2022, which ended on Jan. 23, was up 13.7% on a two-year-over-year basis.

Systemwide sales for the first quarter increased 0.6% and were driven by positive results in same-store sales but partially offset by a slight decline in net restaurants.

In the first quarter, there were 26 franchise deals signed for a total of 98 units, the “highest level of restaurant commitments in company history” according to a company release since the franchise development program launched in mid-2021. That brings the total number of stores in the pipeline to 201.

However, the company has a net restaurant decline of 10 restaurants with 12 restaurants closing and two new restaurant openings in the quarter. The 12 restaurant closures included two company-operated, six franchises related to early terminations and four agreement expirations.

Jack in the Box currently has 2,218 restaurants, according to the company.

TAGS: Finance
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