This West Coast-Based Fast Food Chain Just Teased a Major Expansion
We're talking up to 1,100 new locations.
It's been a rough year for businesses, to say the absolute least, but not everyone's closing out the year scarred. On a quarterly earnings conference call, Jack in the Box executives reported promising numbers, and the chain's new CEO teased a potential expansion of more than 1,000 new stores.
"As we look at the results for the fourth quarter, same-store sales were the strongest in over 25 years, since 1994," Darin Harris, CEO of Jack in the Box, told investors on the call. According to Harris, that, coupled with a resolved legal dispute and a strong desire among franchisees to grow, sets Jack in the Box on a promising path for expansion.
"If you think about it, if we focus on just our existing markets, we can put another 950 to 1,100 locations just in our existing footprint," he said.
Jack in the Box reported operating 2,241 stores at the fiscal year's end, the bulk of which are located in the western and southern United States. Were 1,100 new stores to open, that would be about a 50% increase.
Nothing is set in stone right now, and Harris said he'll share more details next year after they've filled the vacant CFO position, but it's clear that an ambitious expansion strategy is in the works.
Even if the growth doesn't amount to over 1,000 new stores, it's refreshing to see any growth at all after everything 2020 has put us through. Good for you, Darin Harris.