Jack in the Box (JACK) Launches New Version of Munchie Meal
Jack in the Box Inc. JACK recently announced its collaboration with Snoop Dogg, an American rapper and actor, for the launch of the new limited-period Snoop’s Munchie Meal for $14.
The Snoop’s Munchie Meal has been introduced to celebrate the 10th anniversary of the original Munchie Meal that will help satiate the late-night meal demand of JACK’s customers. The new meal includes a spicy sauced and loaded chicken sandwich, classic taco, medium curly fries, baked brownie and Sprite or any drink of choice. The new meal is available from Jun 12 till Aug 6 on Jack in the Box website, mobile application and at JACK locations nationwide.
Jack in the Box also looks to introduce the Build Your Own Munchie Meal wherein customers can choose between one of four distinct entrees, two sides and a drink of choice.
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Shares of JACK have risen 32.9% year to date, outperforming the Zacks Retail - Restaurants industry’s growth of 12.2%.
Jack’s Menu Innovation Initiatives
Jack in the Box is one of the largest hamburger chains in the nation that makes regular menu innovations and provides limited-period offers at both its flagship restaurants to drive long-term customer loyalty.
The company is continuously working on maintaining the uniqueness of its brand, menu and premium food offerings. In second-quarter fiscal 2023, JACK launched its $5 Jack Pack Combo that aided the company with sales growth, especially digitally. Also, during the first quarter of fiscal 2023, the company focused on menu inventions with products like Bacon Cheeseburger and Deluxe Grilled Chicken Sandwich. It also unveiled the new $10 Fan Favs platform and Jack Pack combo. In terms of beverage offerings, the company stated enhancements in products like The Basic Witch Shake, The Frozen Hot Cocoa Shake and the Red Bull-infusion line. The company intends to focus on expanding its caffeine-based drinks to drive growth.
Jack in the Box continues to focus on driving operating excellence across its existing store base by building brand loyalty. Given the menu diversity, price points and positive customer feedback, the company remains flexible and resilient amid changing customer behavior. The company intends to focus on building a long-term product pipeline to drive growth. It is shifting focus to travel-indulgent food that offers great overall value. Increased focus on food packaging and portability is likely to enhance customer experience in the upcoming periods.
Zacks Rank & Key Picks
Jack in the Box currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Retail-Wholesale sector are Yum China Holdings, Inc. YUMC, Chipotle Mexican Grill, Inc. CMG and Chuy's Holdings, Inc. CHUY.
Yum China currently sports a Zacks Rank #1 (Strong Buy). YUMC has a trailing four-quarter earnings surprise of 301.6%, on average. Shares of the company have gained 46.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for YUMC’s 2023 sales and EPS suggests growth of 19.7% and 89.5%, respectively, from the year-ago period’s levels.
Chipotle currently sports a Zacks Rank #1. CMG has a trailing four-quarter earnings surprise of 4.7%, on average. Shares of the company have gained 63.2% in the past year.
The Zacks Consensus Estimate for CMG’s 2023 sales and EPS suggests growth of 14.1% and 33.8%, respectively, from the year-ago period’s levels.
Chuy's Holdings sports a Zacks Rank #1. CHUY has a trailing four-quarter earnings surprise of 23.4%, on average. Shares of the company have surged 97.1% in the past year.
The Zacks Consensus Estimate for CHUY’s 2023 sales and EPS suggests growth of 9.9% and 27%, respectively, from the year-ago period’s levels.
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