“We feel good about where we are in the process,” Harris said.
As a result, 65-70 percent of the system has signed up for growth within existing markets. Jack in the Box Racks Up Growth Milestonesīefore it started bringing new operators into the fold, Jack in the Box focused on giving its existing base of franchisees an opportunity to grow. QSR’s Transformational Brand of 2022: The Rebirth of Jack in the Box He expects the company will return to positive net new unit growth in 2023 for the first time since 2019. Harris said the momentum will continue in the year ahead. Jack in the Box netted five new restaurants in Q1 with six franchise openings and one company-owned closure. “The franchise business is healthier, and now we have a commitment to build new restaurants in the area.” “The bottom line is our market optimization strategy is working here,” Harris said. Comps were up 25.5 percent and transactions were up 9.8 percent in the quarter. Despite being down in unit count, the remaining 47 stores delivered a 10.1 percent increase in Q1 sales. Louis agreement is notable because that market saw 17 franchise restaurants close last year. “Starting essentially from scratch, we have built our new restaurant pipeline by accelerating existing and new development commitments, and approving more sites over the past year than we did in the prior three years,” Harris said during the company’s Q1 earnings call, noting that it currently has 72 agreements for more than 300 restaurants. They are among the brand’s first new franchisees in over a decade. The recent agreements brought three new operators into the system. Those deals came on the heels of four development agreements that were signed in Q1, which will see the burger chain further develop its existing St. The brand in early March inked two deals to enter Arkansas, where it’s never been before, and Florida, where it hasn’t had a presence in over three decades. Jack in the Box is reaching a “turning point” in its efforts to add new locations and expand its footprint, CEO Darin Harris says.
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