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Jack In The Box Inc. Reports First Quarter FY 2013 Earnings; Updates Guidance For FY 2013

As previously announced, during the fourth quarter of 2012, the company began outsourcing its distribution business, and the transition was completed in the first quarter of fiscal 2013. As a result of the outsourcing, the company recorded an after-tax charge totaling $3.3 million in the first quarter of fiscal 2013, which reduced diluted net earnings per share by approximately $0.07. This charge and the results of operations for the distribution business are included in discontinued operations in the accompanying consolidated statements of earnings for all periods presented.

Increase in same-store sales:

    16 Weeks Ended

January 20, 2013

    16 Weeks Ended

January 22, 2012

Jack in the Box®:
Company 2.1 % 5.3 %
Franchise 1.8 % 2.8 %
System 1.9 % 3.6 %
Qdoba®:
Company 1.5 % 3.5 %
Franchise 0.5 % 4.0 %
System 1.0 % 3.8 %

Linda A. Lang, chairman and chief executive officer, said, “Jack in the Box company same-store sales increased 2.1 percent and system same-store sales increased 1.9 percent in the first quarter. Jack in the Box system same-store sales growth for the quarter exceeded that of the QSR sandwich segment for the comparable period, according to The NPD Group’s SalesTrack Weekly for the 16-week time period ended January 20, 2013. Included in this segment are the top 15 sandwich and QSR burger chain competitors.

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