Jack in the Box Inc. (NASDAQ:JACK) Q1 2016 Earnings Conference Call - Final Transcript

Feb 18, 2016 • 11:30 am ET


Jack in the Box Inc. (NASDAQ:JACK) Q1 2016 Earnings Conference Call - Final Transcript


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Good day, everyone, and welcome to the Jack in the Box, Incorporated First Quarter Fiscal 2016 Earnings Conference Call. Today's call is being broadcast live over the Internet. A replay of the call will be available on the Jack in the Box corporate website starting today. [Operator Instructions]

At this time, for opening remarks and introductions, I would like to turn the call over to Carol DiRaimo, Vice President of Investor Relations and Corporate Communications for Jack in the Box. Please go ahead.

Carol A. DiRaimo

Thank you, Sean, and good morning, everyone. Joining me on the call today are Chairman and CEO, Lenny Comma; and Executive Vice President and CFO, Jerry Rebel. During this morning's session we'll review the company's operating results for the first quarter of fiscal 2016 as well as some of the guidance we updated yesterday for the second quarter and fiscal 2016.

In our comments this morning, per share amounts refer to diluted earnings per share and operating earnings per share is defined as diluted EPS from continuing operations on a GAAP basis, excluding restructuring charges and gains or losses from refranchising. Following today's presentation, we'll take questions from the financial community. Please be advised that during the course of our presentation and our question-and-answer session today, we may make forward-looking statements that reflect management's expectations for the future which are based on current information. Actual results may differ materially from these expectations based on risks to the business. The Safe Harbor statement in yesterday's news release and the cautionary statement that accompanies the most recent Form 10-K are considered a part of this conference call.

Material risk factors as well as information relating to company operations are detailed in our most recent 10-K, 10-Q and other public documents filed with the SEC. These documents are available on the Investors section of our website at www.jackinthebox.com. A few calendar items to note. Jack in the Box management will be attending the UBS Global Consumer Conference in Boston on March 9, and the Bank of America Merrill Lynch Consumer and Retail Conference in New York on March 15. Our second quarter ends on April 10 and we tentatively plan to announce results on Wednesday, May 11 after market close.

Our conference call is tentatively scheduled to be held at 8:30 a.m. Pacific Time on Thursday, May 12. As a reminder, we'll be hosting an investor and analyst meeting on May 24 and May 25 in Kansas City. We'll provide more details as the date nears, but if you did not receive the save-the-date email we sent out previously, please contact me.

With that, I'll turn the call over to Lenny.

Leonard A. Comma

Thank you, Carol, and good morning, everyone. I'd like to use my time this morning to address what happened in the first quarter and discuss some of the broader strategic initiatives we're pursuing to drive profitable sales growth and long-term brand loyalty at both Jack in the Box and Qdoba.

Let's start with Jack in the Box and why we