Jack in the Box Inc. Reports Fourth Quarter FY 2012 Earnings; Issues Guidance for FY 2013; Updates Long-term Goals

  Jack in the Box Inc. Reports Fourth Quarter FY 2012 Earnings; Issues
  Guidance for FY 2013; Updates Long-term Goals

Business Wire

SAN DIEGO -- November 19, 2012

Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing
operations of $17.8 million, or $0.39 per diluted share, for the fourth
quarter ended September 30, 2012, compared with earnings from continuing
operations of $23.2 million, or $0.50 per diluted share, for the fourth
quarter of fiscal 2011.

Fiscal 2012 earnings from continuing operations totaled $63.0 million, or
$1.40 per diluted share, compared with $81.7 million, or $1.63 per diluted
share in fiscal 2011.

Operating earnings per share, a non-GAAP measure which the company defines as
diluted earnings per share from continuing operations on a GAAP basis
excluding restructuring charges and gains from refranchising, were $0.27 per
share in the fourth quarter of fiscal 2012 compared with $0.20 per share in
the prior year quarter. Operating earnings per share for the fourth quarter of
fiscal 2012 includes $2.0 million, or approximately $0.03 per share, of lease
costs associated with previously closed restaurants, which are reflected in
“impairment and other charges, net” in the accompanying consolidated
statements of earnings. For fiscal year 2012, operating earnings per share
were $1.20 compared with $0.85 last year. A reconciliation of non-GAAP
measurements to GAAP results is provided below with additional information
included in the attachment to this release. Figures may not add due to
rounding.

                      12 Weeks Ended              52 Weeks Ended
                       September 30,  October 2,   September 30,  October 2,
                       2012            2011         2012            2011
Diluted earnings per
share from
continuing             $   0.39        $  0.50      $   1.40        $  1.63
operations – GAAP
Plus: Restructuring        0.04           −             0.23           −
charges
Less: Gains from          (0.16  )      (0.30 )      (0.44  )      (0.78 )
refranchising
Operating earnings     $   0.27       $  0.20     $   1.20       $  0.85  
per share - Non-GAAP
                                                                             

During fiscal 2012, the company engaged in a comprehensive review of its
organization structure, including evaluating opportunities for outsourcing,
restructuring of certain functions and workforce reductions. As a result,
restructuring charges of $2.7 million, or approximately $0.04 per diluted
share, were recorded during the fourth quarter, and $15.5 million, or
approximately $0.23 per diluted share, were recorded during fiscal 2012. These
charges relate primarily to severance costs for positions that were eliminated
or employees who elected to participate in the company’s voluntary early
retirement program. These charges are also included in “impairment and other
charges, net” in the accompanying consolidated statements of earnings, which
increased in the fourth quarter to $8.3 million from $2.5 million a year ago.

Gains from refranchising contributed approximately $0.16 per diluted share for
the fourth quarter of fiscal 2012 as compared with approximately $0.30 per
diluted share in the prior year quarter. For fiscal year 2012, gains from
refranchising contributed approximately $0.44 per diluted share as compared
with approximately $0.78 for fiscal year 2011.

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 after-tax charges totaling $5.3 million in the fourth quarter of
fiscal 2012, which reduced diluted net earnings per share by approximately
$0.12. 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:

                     12 Weeks        12 Weeks        52 Weeks      52 Weeks
                   Ended          Ended          Ended        Ended
                     Sept. 30,       Oct. 2, 2011    Sept. 30,     Oct. 2,
                     2012                            2012          2011
Jack in the Box^®:
      Company        3.1     %       5.8     %       4.6    %      3.1    %
      Franchise      3.0     %       2.0     %       3.0    %      1.3    %
      System         3.1     %       3.1     %       3.4    %      1.8    %
Qdoba^®:                                                           
      Company        0.8     %       4.3     %       2.8    %      5.1    %
      Franchise      0.0     %       3.3     %       1.9    %      5.4    %
      System         0.4     %       3.7     %       2.4    %      5.3    %
                                                                   

Linda A. Lang, chairman and chief executive officer, said, “Jack in the Box
company same-store sales increased 3.1 percent in the fourth quarter, driven
by a combination of traffic growth and an increase in average check. We are
extremely pleased with these results, given the difficult comparison to last
year’s same-store sales and traffic growth of 5.8 percent and 8.5 percent,
respectively. Jack in the Box same-store sales growth for the quarter was
almost  double that of the QSR sandwich segment for the comparable period,
according to The NPD Group’s SalesTrack® Weekly for the 12-week time period
ended September 30, 2012.Included in this segment are the top 15 sandwich and
QSR burger chain competitors. We believe the same-store sales increases we’ve
experienced over the last eight quarters demonstrate our ability to continue
to drive sustainable sales and market share growth at the Jack in the Box
brand.

“Qdoba’s same-store sales in the fourth quarter increased 0.8 percent for
company restaurants and 0.4 percent system-wide, slightly below our
expectations. Importantly, company restaurant operating margin at Qdoba
improved to 15.5 percent in the fourth quarter from 13.9 percent in the
year-ago quarter,” Lang said.

Consolidated restaurant operating margin was 15.1 percent of sales in the
fourth quarter of 2012, compared with 13.5 percent of sales in the year-ago
quarter. This was lower than the company’s internal expectations due primarily
to higher utilities and repairs and maintenance costs.

Food and packaging costs in the quarter were 150 basis points lower than prior
year. The decrease resulted from the benefit of price increases as well as a
greater proportion of Qdoba company restaurants which combined to more than
offset commodity inflation. Overall commodity costs were up less than 1
percent in the quarter.

Payroll and employee benefits costs were 40 basis points lower than the
year-ago quarter, reflecting leverage from same-store sales increases, the
benefits of refranchising Jack in the Box restaurants, and the favorable
impact of recent acquisitions of Qdoba franchised restaurants.

Occupancy and other costs increased 30 basis points in the fourth quarter due
primarily to higher utilities and repairs and maintenance costs, higher debit
card fees and higher depreciation expense related to the Jack in the Box
re-image program. These increases were partially offset by leverage from
same-store sales increases, the benefits of refranchising Jack in the Box
restaurants, and the favorable impact of recent acquisitions of Qdoba
franchised restaurants.

SG&A expense for the fourth quarter increased by $0.6 million and was 15.2
percent of revenues as compared to 14.6 percent in the prior year quarter. The
increase in SG&A was attributable primarily to higher incentive compensation
accruals, increased G&A related to Qdoba growth, and higher pension and
pre-opening costs which were partially offset by lower advertising and
overhead costs resulting from the company’s refranchising strategy.
Mark-to-market adjustments on investments supporting the company’s
non-qualified retirement plans positively impacted SG&A by $2.0 million in the
fourth quarter of 2012 as compared to a negative impact of $4.5 million in the
fourth quarter of 2011.

Gains on the sale of 42 company-operated Jack in the Box restaurants to
franchisees totaled $10.2 million in the fourth quarter, or approximately
$0.16 per diluted share, compared with $22.2 million, or approximately $0.30
per diluted share in the year-ago quarter from the sale of 106 restaurants.
For fiscal 2012, gains on the sale of 97 company-operated restaurants to
franchisees totaled $29.1 million, or approximately $0.44 per diluted share,
compared with $61.1 million, or approximately $0.78 per diluted share in
fiscal 2011 from the sale of 332 company-operated restaurants. Total proceeds
related to refranchising for the fourth quarter and fiscal 2012 were $19.1
million and $48.3 million, respectively.

The tax rate for fiscal 2012 was 32.7 percent versus 36.3 percent for fiscal
2011. The tax rate for fiscal 2012 was lower than the company’s most recent
guidance due primarily to the market performance of insurance investment
products used to fund certain non-qualified retirement plans. Changes in the
cash value of the insurance products are not deductible or taxable.

The company repurchased approximately 883,000 shares of its common stock in
the fourth quarter of 2012 at an average price of $26.15 per share for an
aggregate cost of $23.1 million. In October 2012, the company repurchased
approximately 985,000 shares of its common stock at an average price of $27.26
per share for an aggregate cost of $26.9 million, leaving $50.0 million
remaining under a $100 million stock-buyback program authorized by the
company’s board of directors in November 2011 that expires in November 2013.
In November 2012, the company’s board of directors authorized an additional
$100 million stock-buyback program that expires in November 2014.

Earlier this month, the company announced the completion of a new five-year
$600 million senior credit facility, comprised of a $400 million revolving
credit facility and a $200 million term loan. Under the terms of the new
agreement, the interest rate has been lowered by 50 basis points and can range
from LIBOR plus 175 to 225 basis points with no floor, with the current spread
at 200 basis points. The agreement also provides for up to $500 million for
stock repurchases and the potential payment of cash dividends.

Restaurant openings

Seven new Jack in the Box restaurants opened in the fourth quarter of fiscal
2012, including two franchised locations, compared with 10 new restaurants
opened system-wide during the same quarter last year, of which six were
franchised.

In the fourth quarter, 24 Qdoba restaurants opened, including 12 franchised
locations, versus 20 new restaurants in the year-ago quarter, of which 12 were
franchised.

At September 30, 2012, the company’s system total comprised 2,250 Jack in the
Box restaurants, including 1,703 franchised locations, and 627 Qdoba
restaurants, including 311 franchised locations.

Guidance

The following guidance and underlying assumptions reflect the company’s
current expectations for the first quarter ending January 20, 2013, and the
fiscal year ending September 29, 2013. Fiscal 2013 is a 52-week year, with 16
weeks in the first quarter, and 12 weeks in each of the second, third and
fourth quarters.

First quarter fiscal year 2013 guidance

  *Same-store sales are expected to increase approximately 1 to 2 percent at
    Jack in the Box company restaurants versus a 5.3 percent increase in the
    year-ago quarter.
  *Same-store sales are expected to increase approximately 1 to 2 percent at
    Qdoba company restaurants versus a 3.5 percent increase in the year-ago
    quarter.

Fiscal year 2013 guidance

  *Same-store sales are expected to increase approximately 2 to 3 percent at
    Jack in the Box company restaurants.
  *Same-store sales are expected to increase approximately 2 to 3 percent at
    Qdoba company restaurants.
  *Overall commodity costs are expected to increase by approximately 2 to 3
    percent for the full year.
  *Restaurant operating margin for the full year is expected to range from
    approximately 15.5 to 16.0 percent, depending on same-store sales and
    commodity inflation.
  *SG&A as a percentage of revenue is expected to be in the mid-14 percent
    range as compared to 14.7% in fiscal 2012. G&A as a percentage of
    system-wide sales is expected to decline to approximately 4.3% in fiscal
    2013 from 4.6% in fiscal 2012.
  *Impairment and other charges as a percentage of revenue are expected to be
    approximately 50 to 70 basis points, excluding restructuring charges.
  *The company will no longer provide guidance with respect to refranchising
    gains or proceeds.
  *20 to 25 new Jack in the Box restaurants are expected to open, including
    approximately 10 company locations.
  *70 to 85 new Qdoba restaurants are expected to open, of which
    approximately 40 to 45 are expected to be company locations.
  *Capital expenditures are expected to be $95 to $105 million.
  *The tax rate is expected to be approximately 37 to 38 percent.
  *Operating earnings per share, which the company defines as diluted
    earnings per share from continuing operations on a GAAP basis excluding
    restructuring charges and gains from refranchising, are expected to range
    from $1.45 to $1.60 in fiscal 2013 as compared to operating earnings per
    share of $1.20 in fiscal 2012.
  *Diluted earnings per share includes approximately $0.04 of incentive
    payments to Jack in the Box franchisees in fiscal 2013 to complete the
    installation of new signage as compared to $0.11 in fiscal 2012 to
    complete the re-image program.

Long-term goals (2014 to 2016)

The company today provided an update to the long-term goals that were
introduced in February 2012. The company expects:

  *Same-store sales growth of 2 to 3 percent annually at Jack in the Box
    company restaurants and 3 to 4 percent annually at Qdoba company
    restaurants.
  *Restaurant operating margin of 16 to 16.5 percent beginning in fiscal
    2014.
  *G&A of 3.5 to 4.0 percent of consolidated system-wide sales beginning in
    fiscal 2014.
  *Jack in the Box system new unit growth of approximately 2 percent per
    year.
  *Qdoba company new unit growth of approximately 15 percent annualized and
    franchise unit growth of 30 to 40 restaurants per year.
  *Operating earnings per share of approximately $2.00 beginning in fiscal
    2014.

Conference call

The company will host a conference call for financial analysts and investors
on Tuesday, November 20, 2012, beginning at 8:30 a.m. PT (11:30 a.m. ET). The
conference call will be broadcast live over the Internet via the Jack in the
Box website. To access the live call through the Internet, log onto the
Investors section of the Jack in the Box Inc. website at
http://investors.jackinthebox.com at least 15 minutes prior to the event in
order to download and install any necessary audio software. A replay of the
call will be available through the Jack in the Box Inc. corporate website for
21 days, beginning at approximately 11:30 a.m. PT on November 20.

About Jack in the Box Inc.

Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant
company that operates and franchises Jack in the Box^® restaurants, one of the
nation’s largest hamburger chains, with more than 2,200 restaurants in 21
states. Additionally, through a wholly owned subsidiary, the company operates
and franchises Qdoba Mexican Grill^®, a leader in fast-casual dining, with
more than 600 restaurants in 42 states and the District of Columbia. For more
information on Jack in the Box and Qdoba, including franchising opportunities,
visit www.jackinthebox.com or www.qdoba.com.

Safe harbor statement

This press release contains forward-looking statements within the meaning of
the federal securities laws. Such statements are subject to substantial risks
and uncertainties. A variety of factors could cause the company’s actual
results to differ materially from those expressed in the forward-looking
statements, including the following: the success of new products and marketing
initiatives; the impact of competition, unemployment, trends in consumer
spending patterns, commodity costs and the timing of sales of Jack in the Box
restaurants to franchisees; the company’s ability to achieve and manage its
planned expansion, such as the availability of a sufficient number of suitable
new restaurant sites, the performance of new restaurants, and risks relating
to expansion into new markets; 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 www.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.

                    JACK IN THE BOX INC. AND SUBSIDIARIES
           RECONCILIATION OF NON-GAAP MEASUREMENTS TO GAAP RESULTS
                                 (Unaudited)

Operating earnings per share, a non-GAAP measure, is defined by the company as
diluted earnings per share from continuing operations on a GAAP basis
excluding restructuring charges and gains from refranchising. Management
believes this non-GAAP financial measure provides important supplemental
information to assist investors in analyzing the performance of the company’s
core business. In addition, the company uses operating earnings per share in
establishing performance goals for purposes of executive compensation. The
company encourages investors to rely upon its GAAP numbers, but includes this
non-GAAP financial measure as a supplemental metric to assist investors. This
non-GAAP financial measure should not be considered as a substitute for, or
superior to, financial measures calculated in accordance with GAAP. In
addition, this non-GAAP financial measure used by the company may be
calculated differently from, and therefore may not be comparable to, similarly
titled measures used by other companies.

Below is a reconciliation of non-GAAP operating earnings per share to the most
directly comparable GAAP measure, diluted earnings per share from continuing
operations. Figures may not add due to rounding.

                      12 Weeks Ended              52 Weeks Ended
                       September 30,  October 2,   September 30,  October 2,
                       2012            2011         2012            2011
Diluted earnings per
share from
continuing             $   0.39        $  0.50      $   1.40        $  1.63
operations – GAAP
Plus: Restructuring        0.04           −             0.23           −
charges
Less: Gains from          (0.16  )      (0.30 )      (0.44  )      (0.78 )
refranchising
Operating earnings     $   0.27       $  0.20     $   1.20       $  0.85  
per share - Non-GAAP
                                                                    


JACK IN THE BOX INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
(Unaudited)
                                                                
                       Quarter                           Fiscal Year
                       September       October 2,        September 30,     October 2,
                       30,
                       2012            2011              2012              2011
                                                                           
Revenues:
Company                $ 278,933       $ 296,088         $ 1,219,214       $ 1,380,273
restaurant sales
Franchise               78,707        70,872          325,812         282,066   
revenues
                        357,640       366,960         1,545,026       1,662,339 
Operating costs
and expenses,
net:
Company
restaurant
costs:
Food and                 90,840          101,064           400,012           460,790
packaging
Payroll and
employee                 79,266          85,226            354,141           414,463
benefits
Occupancy and           66,765        69,864          281,516         329,766   
other
Total company            236,871         256,154           1,035,669         1,205,019
restaurant costs
Franchise costs          39,619          34,879            166,078           136,148
Selling, general
and                      54,223          53,632            227,003           224,653
administrative
expenses
Impairment and
other charges,           8,326           2,477             32,932            12,583
net
Gains on the
sale of                 (10,212 )      (22,185 )        (29,145   )      (61,125   )
company-operated
restaurants
                        328,827       324,957         1,432,537       1,517,278 
                                                                           
Earnings from            28,813          42,003            112,489           145,061
operations
                                                                           
Interest                3,912         4,283           18,874          16,855    
expense, net
                                                                           
Earnings from
continuing
operations and           24,901          37,720            93,615            128,206
before income
taxes
                                                                           
Income taxes            7,103         14,525          30,643          46,475    
                                                                           
Earnings from
continuing               17,798          23,195            62,972            81,731
operations
                                                                           
Losses from
discontinued            (5,321  )      (543    )        (5,321    )      (1,131    )
operations
Net earnings           $ 12,477       $ 22,652         $ 57,651         $ 80,600    
                                                                           
Net earnings per
share - basic:
Earnings from
continuing             $ 0.40          $ 0.51            $ 1.43            $ 1.66
operations
Losses from
discontinued            (0.12   )      (0.01   )        (0.12     )      (0.02     )
operations
Net earnings per       $ 0.28         $ 0.50           $ 1.31           $ 1.63      
share
                                                                           
Net earnings per
share - diluted:
Earnings from
continuing             $ 0.39          $ 0.50            $ 1.40            $ 1.63
operations
Losses from
discontinued            (0.12   )      (0.01   )        (0.12     )      (0.02     )
operations
Net earnings per       $ 0.27         $ 0.49           $ 1.28           $ 1.61      
share
                                                                           
Weighted-average
shares
outstanding:
Basic                    44,069          45,524            43,999            49,302
Diluted                  45,411          46,262            44,948            50,085
                                                                                       

                                                           
JACK IN THE BOX INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data)
(Unaudited)
                                                                 
                                               September 30,     October 2,
                                               2012              2011
                                                                 
ASSETS
Current assets:
Cash and cash equivalents                      $ 8,469           $ 11,424
Accounts and other receivables, net              78,798            86,213
Inventories                                      7,752             7,529
Prepaid expenses                                 32,821            18,737
Deferred income taxes                            26,932            45,520
Assets held for sale and leaseback               45,443            51,793
Assets of discontinued operations held           30,591            35,443
for sale
Other current assets                            375             1,793     
Total current assets                            231,181         258,452   
                                                                 
Property and equipment, at cost:
Land                                             109,295           105,314
Buildings                                        1,054,967         1,023,858
Restaurant and other equipment                   328,031           337,708
Construction in progress                        37,357          44,660    
                                                 1,529,650         1,511,540
Less accumulated depreciation and               (708,858  )      (660,155  )
amortization
Property and equipment, net                     820,792         851,385   
                                                                 
Intangible assets, net                           17,206            17,495
Goodwill                                         140,622           105,872
Other assets, net                               253,924         199,118   
                                               $ 1,463,725      $ 1,432,322 
                                                                 
LIABILITIES AND STOCKHOLDERS’ EQUITY
                                                                 
Current liabilities:
Current maturities of long-term debt           $ 15,952          $ 21,148
Accounts payable                                 94,713            94,348
Accrued liabilities                             164,637         167,487   
Total current liabilities                       275,302         282,983   
                                                                 
Long-term debt, net of current                   405,276           447,350
maturities
                                                                 
Other long-term liabilities                      371,202           290,723
                                                                 
Deferred income taxes                            -                 5,310
                                                                 
Stockholders’ equity:
Preferred stock $0.01 par value,
15,000,000 shares authorized, none               -                 -
issued
Common stock $0.01 par value,
175,000,000 shares authorized,                   758               750
75,827,894 and 74,992,487 issued,
respectively
Capital in excess of par value                   221,100           202,684
Retained earnings                                1,120,671         1,063,020
Accumulated other comprehensive loss             (136,013  )       (95,940   )
Treasury stock, at cost, 31,955,606 and         (794,571  )      (764,558  )
30,746,099 shares, respectively
Total stockholders’ equity                      411,945         405,956   
                                               $ 1,463,725      $ 1,432,322 
                                                                             

                                                            
JACK IN THE BOX INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)
(Unaudited)
                                                                  
                                                 Fiscal Year
                                                 2012             2011
                                                                  
Cash flows from operating activities:
Net earnings                                     $ 57,651         $ 80,600
Adjustments to reconcile net earnings to
net cash provided by operating activities:
Depreciation and amortization                      97,958           96,147
Deferred finance cost amortization                 2,695            2,554
Deferred income taxes                              (6,615   )       (12,832  )
Share-based compensation expense                   6,883            8,062
Pension and postretirement expense                 33,526           23,845
Losses (gains) on cash surrender value of          (12,137  )       1,094
company-owned life insurance
Gains on the sale of company-operated              (29,145  )       (61,125  )
restaurants
Gains on the acquisition of                        -                (426     )
franchise-operated restaurants
Losses on the disposition of property and          6,281            7,650
equipment
Impairment charges and other                       9,403            1,367
Changes in assets and liabilities,
excluding acquisitions and dispositions:
Accounts and other receivables                     3,497            (26,116  )
Inventories                                        4,334            (1,540   )
Prepaid expenses and other current assets          (12,849  )       19,163
Accounts payable                                   (3,264   )       1,498
Accrued liabilities                                247              2,446
Pension and postretirement contributions           (20,318  )       (4,790   )
Other                                             (1,417   )      (13,337  )
Cash flows provided by operating                  136,730        124,260  
activities
Cash flows from investing activities:
Purchases of property and equipment                (80,200  )       (129,312 )
Purchases of assets intended for sale and          (35,927  )       (31,798  )
leaseback
Proceeds from sale and leaseback of assets         27,844           28,536
Proceeds from the sale of company-operated         47,115           119,275
restaurants
Collections on notes receivable                    12,230           20,848
Disbursements for loans to franchisees             (3,977   )       (14,473  )
Acquisition of franchise-operated                  (48,945  )       (31,077  )
restaurants
Other                                             344            2,199    
Cash flows used in investing activities           (81,516  )      (35,802  )
Cash flows from financing activities:
Borrowings on revolving credit facilities          576,380          721,160
Repayments of borrowings on revolving              (602,540 )       (605,000 )
credit facilities
Principal repayments on debt                       (21,110  )       (13,760  )
Debt issuance costs                                (741     )       (989     )
Proceeds from issuance of common stock             10,167           5,530
Repurchases of common stock                        (30,013  )       (193,099 )
Excess tax benefits from share-based               1,115            1,290
compensation arrangements
Change in book overdraft                          8,573          (2,773   )
Cash flows used in financing activities           (58,169  )      (87,641  )
                                                                  
Net increase (decrease) in cash and cash           (2,955   )       817
equivalents
Cash and cash equivalents at beginning of         11,424         10,607   
year
Cash and cash equivalents at end of year         $ 8,469         $ 11,424   
                                                                  

                                                                  
JACK IN THE BOX INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
(Unaudited)
                                                                             
The following table presents certain income and expense items included in
our consolidated statements of earnings as a percentage of total revenues,
unless otherwise indicated.Percentages may not add due to rounding.

CONSOLIDATED STATEMENTS OF EARNINGS DATA
                                                                     
                              Quarter                     Fiscal Year
                              September    October        September  October
                              30,          2,             30,        2,
                              2012         2011           2012       2011
Revenues:
Company restaurant            78.0   %     80.7   %       78.9   %   83.0  %
sales
Franchise revenues            22.0   %     19.3   %       21.1   %   17.0  %
Total revenues                100.0  %     100.0  %       100.0  %   100.0 %
                                                                     
Operating costs and
expenses, net:
Company restaurant
costs:
Food and packaging            32.6   %     34.1   %       32.8   %   33.4  %
(1)
Payroll and
employee benefits             28.4   %     28.8   %       29.0   %   30.0  %
(1)
Occupancy and other           23.9   %     23.6   %       23.1   %   23.9  %
(1)
Total company
restaurant costs              84.9   %     86.5   %       84.9   %   87.3  %
(1)
Franchise costs (1)           50.3   %     49.2   %       51.0   %   48.3  %
Selling, general
and administrative            15.2   %     14.6   %       14.7   %   13.5  %
expenses
Impairment and                2.3    %     0.7    %       2.1    %   0.8   %
other charges, net
Gains on the sale
of company-operated           (2.9)  %     (6.0)  %       (1.9)  %   (3.7) %
restaurants
Earnings from                 8.1    %     11.4   %       7.3    %   8.7   %
operations
                                                                     
Income tax rate (2)           28.5   %     38.5   %       32.7   %   36.3  %

(1) As a percentage of the related sales and/or revenues
(2) As a percentage of earnings from continuing operations and before income
taxes.
                                                                           
                                                                           

The following table presents Jack in the Box and Qdoba company restaurant
sales, costs and costs as a percentage of the related sales. Percentages may
not add due to rounding.

SUPPLEMENTAL COMPANY-OPERATED RESTAURANTS STATEMENTS OF EARNINGS DATA
(Dollars in thousands)
                                                                                        
                 Quarter                                           Fiscal Year
                 September 30, 2012      October 2, 2011           September 30, 2012      October 2, 2011
Jack in
the Box:
Company
restaurant       $ 207,130               $ 243,028                 $ 943,990               $ 1,181,961
sales
Company
restaurant
costs:
Food and           69,734      33.7%       85,178      35.0%         319,415     33.8%       403,209       34.1%
packaging
Payroll
and                59,703      28.8%       70,732      29.1%         278,464     29.5%       358,917       30.4%
employee
benefits
Occupancy         46,793      22.6%      54,577      22.5%        205,134     21.7%      271,432       23.0%
and other
Total
company          $ 176,230     85.1%     $ 210,487     86.6%       $ 803,013     85.1%     $ 1,033,558     87.4%
restaurant
costs
                                                                                                           
Qdoba:
Company
restaurant       $ 71,803                $ 53,060                  $ 275,224               $ 198,312
sales
Company
restaurant
costs:
Food and           21,106      29.4%       15,886      29.9%         80,597      29.3%       57,581        29.0%
packaging
Payroll
and                19,563      27.2%       14,494      27.3%         75,677      27.5%       55,546        28.0%
employee
benefits
Occupancy         19,972      27.8%      15,287      28.8%        76,382      27.8%      58,334        29.4%
and other
Total
company          $ 60,641      84.5%     $ 45,667      86.1%       $ 232,656     84.5%     $ 171,461       86.5%
restaurant
costs
                                                                                                           


JACK IN THE BOX INC. AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
(Unaudited)

The following table summarizes the changes in the number and mix of Jack in the Box and
Qdoba company and franchise restaurants in each fiscal year:
                                                                      
                    September 30, 2012                    October 2, 2011
                    Company     Franchise     Total       Company     Franchise     Total
Jack in the
Box:
Beginning of        629         1,592         2,221       956         1,250         2,206
year
New                 19          18            37          15          16            31
Refranchised        (97  )      97            -           (332  )     332           -
Closed              (4   )      (4     )      (8    )     (10   )     (6     )      (16   )
End of year         547        1,703        2,250      629        1,592        2,221 
% of Jack in
the Box             24   %      76     %      100   %     28    %     72     %      100   %
system
% of
consolidated        63   %      85     %      78    %     72    %     82     %      79    %
system
Qdoba:
Beginning of        245         338           583         188         337           525
year
New                 26          32            58          25          42            67
Acquired from       46          (46    )      -           32          (32    )      -
franchisees
Closed              (1   )      (13    )      (14   )     -          (9     )      (9    )
End of year         316        311          627        245        338          583   
% of Qdoba          50   %      50     %      100   %     42    %     58     %      100   %
system
% of
consolidated        37   %      15     %      22    %     28    %     18     %      21    %
system
Consolidated:                                                                  
Total system        863        2,014        2,877      874        1,930        2,804 
% of
consolidated        30   %      70     %      100   %     31    %     69     %      100   %
system
                                                                                          

Contact:

Jack in the Box Inc.
Investor Contact:
Carol DiRaimo, (858) 571-2407
or
Media Contact:
Brian Luscomb, (858) 571-2291
 
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