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Jack in the Box (JACK) Reaches Agreement With PAR Technology
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Jack in the Box Inc. (JACK - Free Report) recently announced that it has entered into a collaboration with ParTech, Inc. (PAR - Free Report) — an international restaurant technology company that provides a unified commerce cloud platform to enterprise restaurants. The association involves the integration of a new online digital loyalty program — Punchh, across 2,219 Jack in the Box restaurants.
Per the collaboration, Punchh will update Jack in the Box’s online ordering interface and will be adding a loyalty program to provide an upgraded app and enhance digital experience for customers. Additionally, Punchh will include add-on coupons and promotions that allow Jack in the Box to send offers to targeted guests, thereby boosting the brands promotion.
With respect to this, Ryan Ostrom, executive vice president and chief marketing officer of Jack in the Box, stated, “Just like our brand, Punchh lives outside of the box with its streamlined, cutting-edge technology. Jack in the Box is known for spearheading conveniences for our guests, so it’s a perfect fit for us to reach more fans across the country with our crave-worthy offers through Punchh’s loyalty solution.”
Focus on Digital Channel Driving Growth
Jack in the Box restaurants largely depend on investing in innovation and enhancing digital solutions for its customers. The implementation of digital menu board and menu board canopies is part of the company’s developmental plans. Moreover, to serve the communities through delivery, drive-thru and mobile app, the company launched #StayInTheBox campaign to promote “shelter-in-place” mandates. It also developed ads to communicate its dedication for safety protocols while delivering services.
Jack in the Box is investing aggressively in store improvements and new store build, innovating via digital operations. Moreover, the company is using its digital platforms for enhancing overall guest experiences and customer satisfaction. To date, the company’s digital database has grown 30% and it expects digital channel sales to hit the mark of 10% in the near term.
Shares of Jack in the Box have gained 23.5% over the past year compared with the Zacks Retail - Restaurants industry’s 24.6% growth. The company’s earnings estimates for fiscal year 2021 have moved up 6.2% over the past 60 days, depicting analysts’ optimism regarding its bottom-line growth potential.
Image: Bigstock
Jack in the Box (JACK) Reaches Agreement With PAR Technology
Jack in the Box Inc. (JACK - Free Report) recently announced that it has entered into a collaboration with ParTech, Inc. (PAR - Free Report) — an international restaurant technology company that provides a unified commerce cloud platform to enterprise restaurants. The association involves the integration of a new online digital loyalty program — Punchh, across 2,219 Jack in the Box restaurants.
Per the collaboration, Punchh will update Jack in the Box’s online ordering interface and will be adding a loyalty program to provide an upgraded app and enhance digital experience for customers. Additionally, Punchh will include add-on coupons and promotions that allow Jack in the Box to send offers to targeted guests, thereby boosting the brands promotion.
With respect to this, Ryan Ostrom, executive vice president and chief marketing officer of Jack in the Box, stated, “Just like our brand, Punchh lives outside of the box with its streamlined, cutting-edge technology. Jack in the Box is known for spearheading conveniences for our guests, so it’s a perfect fit for us to reach more fans across the country with our crave-worthy offers through Punchh’s loyalty solution.”
Focus on Digital Channel Driving Growth
Jack in the Box restaurants largely depend on investing in innovation and enhancing digital solutions for its customers. The implementation of digital menu board and menu board canopies is part of the company’s developmental plans. Moreover, to serve the communities through delivery, drive-thru and mobile app, the company launched #StayInTheBox campaign to promote “shelter-in-place” mandates. It also developed ads to communicate its dedication for safety protocols while delivering services.
Jack in the Box is investing aggressively in store improvements and new store build, innovating via digital operations. Moreover, the company is using its digital platforms for enhancing overall guest experiences and customer satisfaction. To date, the company’s digital database has grown 30% and it expects digital channel sales to hit the mark of 10% in the near term.
Shares of Jack in the Box have gained 23.5% over the past year compared with the Zacks Retail - Restaurants industry’s 24.6% growth. The company’s earnings estimates for fiscal year 2021 have moved up 6.2% over the past 60 days, depicting analysts’ optimism regarding its bottom-line growth potential.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Jack in the Box carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the same space include The Wendy's Company (WEN - Free Report) and Yum! Brands, Inc. (YUM - Free Report) , each sporting a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wendy's and Yum! Brands’ earnings for 2021 are expected to rise 42.1% and 22.4%, respectively.