Jack in the Box announces plan to close up to 200 restaurants

Jack in The Box announced that it plans to close between 150 to 200 of its restaurants as it looks forward to enhancing the financial performance of the fast food company.

The company said on Wednesday that the restaurants in the planned “Bloc” program were the ones that were “poor performance”, and in many cases, it is several decades old.

“Our actions today focus on three main areas: addressing our public budget to accelerate the cash flow and pay the debt, while maintaining capital investments directed towards growth related to technology and restoring restaurants; while closing restaurants with weak performance in a moderate position in the fixed story in the clear story, saying the competitive director.

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Jack in a restaurant building and signature. (Melinda Crawford/Eduction Images/Universal Images Group via Getty Images/Getty Images)

Almost 80 to 120 of the total restaurants that you plan to close under the program will close its doors forever before the end of the year, according to Jack in the box.

The company said that the rest of the weak restaurants on the cutting bloc will stop the “end of the concession agreement on the concerned concession.”

“This program does not include 1.5 % to 2.0 % of the system of the system for the fiscal year 2025, and the annual closure rate continues after that about 1 % of the system units that start in the fiscal year 2026,” Jack said in the fund.

The company expects a “consistent and positive and purposeful growth for the unit” after closing the weak sites from 150 to 200.

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The block closing plan is part of the “Jack on Track” initiative, which was unveiled in the box.

In addition to closing restaurants, Jack in The Box said that the strategy includes other measures aimed at helping the company to see “sustainable growth” in the coming years through improvements in its financial performance and public budgets.

Jack in the Box is looking for a possible investment and other “strategic alternatives” to the Del Taco brand as well, according to its announcement. He had the series since 2022.

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Del Taco Restaurant in Fairfield, California. (Justin Sullivan / Getty Emokires / Getty Emoz)

Jack in the Box Current Store Count includes approximately 2200 restaurants bearing a name and 600 Del Taco restaurants.

The company said that the sales of the first store in the second quarter of Jack in the box recorded a decrease of 4.4 %. Del Taco witnessed a 3.6 % decrease.

The company is scheduled to issue its financial results in the second quarter in mid -May.

Winnemucca, Nevada – August 5, 2020: an external view of jack at the fast food chain restaurant in the box (Istock / Istock)

During its fiscal year 2025, Jack in the box expected the company to witness the operating profits per share from 5.05 dollars to $ 5.40, not any traces of the Jack on the Path.

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She also predicted that her work of the same name has “low numbers to mid numbers” decreases in the sales of the same stores compared to the previous fiscal year.

Taker Jack was in the Permanent CEO of the box in late March. He has been leading the company on a temporary basis since the former CEO, Darren Harris, left the company for the position “outside the restaurant industry” in late February.