Restaurant-Level Margin (2), a non-GAAP measure, was 20.1%, a decrease of 6.9% from the fourth quarter a year ago, primarily driven by the take back of lower-volume franchise restaurants increases in food and packaging costs wage inflation of 9.8% and increases in utilities, and maintenance and repair costs, partially offset by lower incentive compensation and menu price increases. Adjusted EBITDA (1), a non-GAAP measure, was $74.3 million in the fourth quarter of fiscal 2021 compared with $78.4 million for the prior year quarter.
Net earnings increased to $38.9 million for the fourth quarter of fiscal 2021, compared with $37.8 million for the fourth quarter of fiscal 2020. Total revenues increased 9.0% to $278.5 million, compared to $255.4 million in the comparable period ended September 27, 2020, driven by the 53rd week in 2021 and growth in same store sales. Q4/FY 2020 Unit % Increase/(Decrease)įourth quarter diluted earnings per share was $1.80, up 9.8% over the prior year quarter or 2.4% excluding the benefit of the 53rd week. (1) Fiscal year 2020 Diluted EPS included non-recurring items, notably a pension settlement charge and the sale of a corporate office building, that affect the comparability to fiscal year 2021 Diluted EPS. Franchise same-store sales grew 0.6%, with increases in average check partially offset by a decrease in traffic. In the fourth quarter, there were development agreements signed for 47 future restaurants, bringing the year-to-date total to 111 future restaurant commitments.Ĭompany-operated same-store sales declined 4.4% in the fourth quarter, with decreases in traffic partially offset by increases in average check. The five store closures included one company-owned location and four related to early terminations and an agreement expiration. The company had a fourth quarter net store decline of one store, comprised of four store openings and five closures.
JACK IN THE BOX FULL
Systemwide sales for full year 2021 increased 13.1%, or 11.0% when excluding the 53rd week. Systemwide sales for the fourth quarter increased 8.6%, or 0.2% when excluding the 53rd week for the purpose of comparison to the prior year, driven by positive results in same store sales and partially offset by a slight decline in net unit growth. We continue to focus heavily on making significant progress on our strategic pillars, growth objectives, and unlocking substantial value for JACK shareholders."
“We closed the year with strong comps on a two-year basis of +12.3% in Q4, leading us to another record-setting year of store-level profitability - a key element in driving results against our growth strategy in the near future. "I am very proud of the execution and determination shown by our outstanding franchisees and corporate team members, continuing to deliver for our guests during a challenging operating environment,” said Darin Harris, Jack in the Box Chief Executive Officer.
(NASDAQ: JACK) announced financial results for the fourth quarter ended October 3, 2021, comprised of growth in systemwide sales, same store sales and earnings per share. Management provides company-owned restaurant outlook for 20 Management provides restaurant level margin outlook for FY 2022 Management provides annual guidance measures for FY 2022
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