Jack in the Box Inc. (JACK) said late Wednesday that it was withdrawing its 2020 guidance due to the COVID-19 pandemic and was projecting a quarterly same-store sales decrease of 4.2%. Jack in the Box shares rose 0.4% in the extended session. The company said that it had minimal temporary closures and were operating in an "off-premise" capacity. Jack in the Box said it had paused its share repurchase program and did not buy back shares in the second quarter, which ended April 12. The restaurant chain said it expects to report $165 million in cash at the end of the second quarter and that it will update when it can estimate the impacts of the coronavirus on its operations.
-Max A. Cherney; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 15, 2020 16:27 ET (20:27 GMT)
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