- Early Q4 trends at Jack in the Box (NASDAQ:JACK) looks favorable, according to an update from Wedbush.
- Channel checks from the investment firm show comparable sales running along near the +1.5% pace expected by analysts. Pressure in the restaurant sector has now lowered the bar over what comp mark is considered steady.
- Wedbush sees EPS upside for Jack through increased buyback activity and refranchising opportunities.
- The restaurant operators isn't due to report on Q3 earnings and update on Q4 progress until November 21.
- More on Jack (a factoid from Nations Restaurant News' Jonathan Maze): Jack in The Box brings in 40% of its business now from breakfast or late night sales.
- Even more on Jack: A Seeking Alpha contributor with seemingly a good handle on the restaurant sector is Bob Ciura. Ciura recommended selling Chipotle and buying Jack in the Box just over a year ago. To say that pair trade paid off is an understatement (JACK +24% and CMG -41% over the period).