The 74-year-old restaurant chain, Jack in the Box, has announced its plan “JACK on Track” to close up to 200 locations to improve its long-term finances. The company’s decision to close 10% of its total locations follows a downturn in customer activity due to cautious consumer spending.
The company stated, “Jack in the Box will implement a block closure program, which is projected to result in the closure of approximately 150-200 underperforming restaurants — a majority of which have been in the system for over three decades.”
Lance Tucker, Jack in the Box’s new CEO as of March 2025, told investors: “In my time thus far as CEO, I have worked quickly with our teams to conclude that Jack in the Box operates at its best, and maximizes shareholder return potential, within a simplified and asset-light business model.”
Jack in the Box’s stock has fallen 57% over the past year; however, Tucker states that the company’s main priority is turning this recent slump around.
“Our actions today focus on three main areas: addressing our balance sheet to accelerate cash flow and pay down debt, while preserving growth-oriented capital investments related to technology and restaurant reimage; closing underperforming restaurants to position ourselves for consistent net unit growth and competitive unit economics; and, an overall return to simplicity for the Jack in the Box business model and investor story.”
By CEO NA Editorial Staff