In a bid to meet the rising demand for meatless alternatives, Jack in the Box Inc. (JACK - Free Report) in collaboration with Raised & Rooted recently announced the launch of the Jack's Unchicken and Jack's Spicy Unchicken sandwiches. Notably, this marks the first plant-based sandwich to have been produced by the company.
The plant-based option comprises pea protein isolate and crispy breading. It also comes in spicy and classic flavors with a la carte and combo options. However, the sandwich will be available at select locations in Monterey and Salinas, California, and Reno, Nevada through Dec 12, while supplies last.
In this regard, Jennifer Kennedy, chief product officer, Jack in the Box stated, "We are excited to meet the growing demand for meatless alternatives with our new Unchicken sandwiches providing indulgent taste, crispy crunch, and savory flavor in a new plant-based option."
Notably, with an increase in plant-based food consumption, the company is optimistic about the timely addition to menus for meat and plant eaters alike.
Increased Focus on Menu Innovation
Jack in the Box makes regular menu innovations and provides limited period offers at both its flagship restaurants to drive long-term customer loyalty. With focused menu inventions around premium products like Buttery Jack Burgers, sauced & Loaded Fries, munchie mash-ups and teriyaki bowls running currently, the company is witnessing comps growth.
Notably, sales in the third quarter were primarily driven by solid performance of Tiny Taco, homestyle chicken sandwich and Classic Buttery Jack. It has not only regained trust of its customers but also witnessed repetitive guest ordering. Also, the company’s newly-launched popcorn chicken witnessed positive response in the markets. The company is shifting focus to travel-indulgent food that offers great overall value. Thus, increased focus on food packaging and portability is likely to boost customer experience in the upcoming periods.
So far this year, shares of the company have gained 10% compared with the industry’s 9.1% growth.
Zacks Rank & Other Key Picks
Jack in the Box currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few other top-ranked stocks in the same space include Chuy's Holdings, Inc. (CHUY - Free Report) , Brinker International, Inc. (EAT - Free Report) and Fiesta Restaurant Group, Inc. (FRGI - Free Report) , each sporting a Zacks Rank #1.
Chuy's Holdings has a trailing four-quarter earnings surprise of 87.3%, on average.
Brinker has a three-five-year earnings per share growth rate of 12.7%.
2021 earnings for Fiesta Restaurant are expected to surge 260.7%.
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