Jack in the Box falls on exploring Del Taco sale, dividend suspension

Jack In The Box

23/04/2025 23:25

** Shares of restaurant operator Jack in the Box JACK.O down 6.6% at $23.75 after the bell

** JACK suspends dividend to pay down debt and plans to close about 150 to 200 underperforming restaurants

** Also announces strategic alternatives for its struggling Del Taco restaurant business, including a potential sale

** CEO Lance Tucker, who took the helm on March 31, says these measures will boost JACK's long-term financial health and reduce debt

** Company reports a 4.4% decline in same-store sales in Q2 ended April 13, as per company's preliminary results

** As of last close, stock down about 40% this year

 (Reporting by Savyata Mishra in Bengaluru)

 ((Savyata.Mishra@thomsonreuters.com))