San Diego-based Jack in the Box announced Tuesday that it plans to open more restaurants and enter new markets for the first time since 2019.
“We are thrilled that, in just a short couple of years, Jack in the Box is expected to take its first major step in recognizing our growth potential by turning net-unit growth positive for the first time in four years,” said Darin Harris, chief executive officer.
Harris said the fast food chain has signed agreements for a total of 267 new restaurants. Among the new markets for the fast-food chain are Salt Lake City, UT, and Louisville, KY.
“Through rebuilding franchisee relationships, and pairing franchise and company resources to enter new markets in a position of strength, we are starting to see results,” he said. “This is only the beginning.”
The announcement camp as the company reported earnings of $45.9 million, or $2.17 per share, in its fourth fiscal quarter ended Oct. 2, compared to $38.9 million, or $1.81 per share, in the same quarter a year ago. Revenue rose to $403 million from $278 million a year ago.
Jack in the Box currently operates 2,200 of its signature hamburger restaurants across 21 states as well as 600 Del Taco restaurants in 15 states.