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Jack in the Box shares pop 7% amid strong third quarter sales gains

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Investing.com -

Investing.com -- Shares in Jack In The Box Inc (NASDAQ:JACK) surged 7% in after-hours after reporting stronger than expected same-restaurant sales at Qdoba Mexican Grill over the previous quarter, providing some optimism that the fast-food restaurant chain can overcome a difficult patch for numerous companies in the industry.

During Jack in the Box's third quarter of Fiscal Year 2016, which ended in early-July, the company reported $30.2 million or 0.91 per share, up considerably from net profits of $26.8 million or 0.71 per share from the same quarter in 2015. While comparable restaurant sales at its namesake division fell by 0.2% for the period, the company expected the metric to decline by as much as 2% on the quarter.

At the same time, same-restaurant sales rose...


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