Jack in the Box Inc. (NASDAQ:JACK) Q4 2022 Earnings Call Transcript

Jared Garber : Great. Thank you for the question. I wanted to circle back to some of the comments from the beginning. Darin, I think you mentioned, the reimage program now, I guess, 13 units maybe have opened under that new reimage and you talked about some improving trends there specifically on transactions or traffic. One, could you give us a little bit more color on what exactly you are seeing in those stores, if they are geographically co-located or more dispersed? And then, I guess, secondarily, it sounds like there is a hefty number of applications sitting on the desk for that reimage. I think you said 366, so just curious about the timing of which we might see some of those units get approved and remodels? Thanks.

Darin Harris: Yeah. I mean we have definitely seen a traffic led sales bump when we have done reimage. Third — what we said was of that number of 13 we have approved for construction, so those aren’t actually completed yet of that large portfolio that we 366 that have applied and turned in their forms. And what we do with that process as we worked through it with the franchisees to improve those, so that we understand kind of a line of sight into the capital over the next four years to five years and that doesn’t mean all 366 will happen. What it means is that, those had applied, we work with them to go through a process, so we can start to parse out what investment will be required on our part and their part over the next five years to seven years, and so it doesn’t mean those are all going to happen in the next 12 months to 24 months.

Jared Garber: Okay.

Operator: Ladies and gentlemen, thank you for participating. This concludes today’s conference call. You may now disconnect.