8-K
JACK IN THE BOX INC (JACK)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 29, 2021
| JACK IN THE BOX INC. |
|---|
| (Exact name of registrant as specified in its charter) |
| Delaware | 1-9390 | 95-2698708 |
|---|---|---|
| (State or Other Jurisdiction<br><br> <br>of Incorporation) | (Commission<br><br> <br>File Number) | (I.R.S. Employer<br><br> <br>Identification Number) |
| 9357 Spectrum Center Blvd,<br> SAN DIEGO, CA 92123 | ||
| --- | ||
| (Address of principal executive offices) (Zip Code) | ||
| (858) 571-2121 | ||
| (Registrant’s telephone number, including area code) | ||
| Not Applicable | ||
| (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock | JACK | The NASDAQ Stock Market LLC<br><br> <br>(NASDAQ Global Select Market) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02 RESULTS
OF OPERATIONS AND FINANCIAL CONDITION
On June 29, 2021, Jack in the Box Inc. issued a press release providing an overview of its virtual 2021 Investor Day presentation.
A copy of the press release is attached as Exhibit 99.1.
ITEM 9.01 FINANCIAL
STATEMENTS AND EXHIBITS
(d) Exhibits.
| Exhibit | |
|---|---|
| No. | Description |
| 99.1 | Press Release of Jack in the Box Inc. dated June 29, 2021 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JACK IN THE BOX INC. | ||
|---|---|---|
| Date: June 29, 2021 | /s/ Tim Mullany | |
| Tim Mullany | ||
| Executive Vice President, Chief Financial Officer | ||
| Exhibit 99.1 | ||
| --- |
Jack in the Box Inc. Hosts 2021 Virtual Investor Day
SAN DIEGO--(BUSINESS WIRE)--June 29, 2021--Jack in the Box Inc. (NASDAQ: JACK) held a virtual Investor Day earlier today, during which the company provided an overview of its long-term financial framework, including additional details regarding its plans for unit growth, focus on unit economics, 3-5 year strategy and guidance, as well as future investments in digital and a new store prototype.
To access a replay of the webcast, including downloadable presentation materials, please visit the Events and Presentations tab of the Jack in the Box Inc. Investors website at http://investors.jackinthebox.com.
As part of the presentation, JACK leadership spoke to the following:
- Unit growth within existing and future markets, with the expectation of 4% growth in 2025.
- Investments in a digital roadmap that includes more focus on loyalty, delivery and mobile ordering.
- A significantly improved franchisee relationship, allowing for future growth opportunities in partnership with its operators, many of which started as store-level team members
- A new operator-heavy, growth-minded leadership team that will propel the future of the business.
- And, the reveal of a new store prototype that features a flexible and modular design allowing it to fit in a variety of locations.
The company also provided 3-5 Year Financial Guidance:
- Same Store Sales: 2.0% - 3.0%
- Unit Growth: 1.0% - 4.0%
- System Sales: 3.0% - 5.0%
About Jack in the Box Inc.
Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, operates and franchises more than 2,200 Jack in the Box^®^restaurants in 21 states and Guam. Founded in 1951, Jack in the Box has grown to become one of the nation’s largest quick service restaurant chains and is best known for its diverse, all-day, everyday menu available 24/7. For more information on Jack in the Box, including franchising opportunities, visit www.jackinthebox.com.
Safe Harbor Statement
This press release and the accompanying presentation contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “goals,” “guidance,” “intend,” “plan,” “project,” “may,” “will,” “would” and similar expressions. These statements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate. These estimates and assumptions involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. Factors that may cause our actual results to differ materially from any forward-looking statements include, but are not limited to: the potential impacts to our business and operations resulting from the coronavirus COVID-19 pandemic, the success of new products, marketing initiatives and restaurant remodels and drive-thru enhancements; the impact of competition, unemployment, trends in consumer spending patterns and commodity costs; the company's ability to reduce G&A and operate efficiently; the company’s ability to achieve and manage its planned growth, which is affected by the availability of a sufficient number of suitable new restaurant sites, the performance of new restaurants, risks relating to expansion into new markets and successful franchise development; the ability to attract, train and retain top-performing personnel, litigation risks; risks associated with disagreements with franchisees; supply chain disruption; food-safety incidents or negative publicity impacting the reputation of the company's brand; increased regulatory and legal complexities, including federal, state and local policies regarding mitigation strategies for controlling the coronavirus COVID-19 pandemic, risks associated with the amount and terms of the securitized debt issued by certain of our wholly owned subsidiaries; and stock market volatility. These and other factors are discussed in the company’s annual report on Form 10-K and its periodic reports on Form 10-Q filed with the Securities and Exchange Commission, which are available online at http://investors.jackinthebox.com or in hard copy upon request. The company undertakes no obligation to update or revise any forward-looking statement, whether as the result of new information or otherwise.
Contacts
Investor Contact:
Maria Hocut
Investor.Relations@Jackinthebox.com