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Stock impact report

Jack in the Box shut down more than 70 stores with more expected by year's end over financial struggles [FOX Business Network]

Jack In The Box Inc. (JACK) 
Last jack in the box inc. earnings: 2/19 04:05 pm Check Earnings Report
Jack in the Box plans to close dozens of restaurants by the end of the year as part of an effort to cut costs and boost revenue. The franchise said earlier this year that it would shutter between 150–200 underperforming stores by 2026, including 80–120 by the end of this year, under a block closure program. In May, Jack In The Box said it closed 12 locations, which was followed by another 13 closures by August and 47 more that were reported in the company's November earnings, according to the Daily Mail. This brings the total thus far to 72, which remains short of the company's goal for the end of the year with a week to go. The company hopes the closures will improve its financial performance , as stores are seeing fewer customers, beef prices are rising and the company is carrying significantly more debt than it generates in annual earnings. It reported a net loss of $80.7 million for the full fiscal year that ended in September. The franchise also reported that sales fel Show less Read more
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