DOCSLIB.ORG

Jack in the Box Inc. I 2008 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Jack in the Box Inc. I 2008 Annual Report BSD50573_10K_Cvr_10:BSD50573_10K_Cvr_10 12/22/08 12:00 PM Page 1 JACK IN THE BOX INC. IN THE BOX JACK I 2008 ANNUAL REPORT Jack in the Box and Qdoba states Jack in the Box (only) states Qdoba (only) states States that wish they had Jack in the Box and Qdoba JACK IN THE BOX INC. I 2008 ANNUAL REPORT JACK IN THE BOX INC. I 9330 BALBOA AVENUE, SAN DIEGO, CA 92123 I WWW.JACKINTHEBOX.COM BSD50573_10K_Cvr_10:BSD50573_10K_Cvr_10 12/22/08 12:01 PM Page 2 COMPANY OVERVIEW CORPORATE OFFICES Jack in the Box Inc. Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant company that 9330 Balboa Avenue operates and franchises Jack in the Box® restaurants, one of the nation’s largest hamburger San Diego, CA 92123-1516 chains, with more than 2,100 restaurants in 18 states. Additionally, through a wholly owned (858) 571-2121 subsidiary, the company operates and franchises Qdoba Mexican Grill®, a leader in fast-casual dining, with more than 450 restaurants in 41 states and the District of Columbia. INVESTOR REQUESTS The company also operates a proprietary chain of 61 convenience stores called Quick Stuff®, For financial information, visit the Jack in the Box Inc. website at www.jackinthebox.com or write: each built adjacent to a full-size Jack in the Box restaurant and including a major-brand Investor Relations fuel station. The company has announced plans to sell its Quick Stuff brand. Jack in the Box Inc. 9330 Balboa Avenue San Diego, CA 92123-1516 SELECTED FINANCIAL DATA The company’s fiscal year is 52 or 53 weeks, ending the Sunday closest to September 30. INVESTOR INQUIRIES Carol DiRaimo, Vice President, Investor Relations and Corporate Communications Fiscal year 2004 includes 53 weeks; all other years include 52 weeks. The selected (858) 571-2407 financial data reflects Quick Stuff as a discontinued operation for all years presented. A copy of the company’s 2008 Form 10-K is available free of charge. The following selected financial data of Jack in the Box Inc. for each fiscal year was extracted or derived from our audited financial statements. LEGAL COUNSEL DLA Piper US LLP Fiscal Year 2008 2007 2006 2005 2004(1) INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM (In thousands, except per share data) KPMG LLP 750 B Street Statement of Earnings Data: San Diego, CA 92101 Total revenues $2,539,561 $2,513,431 $2,381,244 $2,269,477 $2,192,612 Costs of revenues 2,102,467 2,042,781 1,945,947 1,871,128 1,805,537 TRANSFER AGENT AND REGISTRAR BNY Mellon Shareowner Services Selling, general and Newport Office Center VII administrative expenses 287,555 291,745 298,436 272,087 262,809 480 Washington Blvd. Gains on sale of company- Jersey City, NJ 07310 operated restaurants (66,349) (38,091) (40,464) (22,093) (16,146) Total operating costs STOCK EXCHANGE LISTING and expenses 2,323,673 2,296,435 2,203,919 2,121,122 2,052,200 Jack in the Box Inc. common stock traded on the New York Stock Exchange (NYSE) through the market's close on Dec. 12, 2008, under the ticker symbol Earnings from operations 215,888 216,996 177,325 148,355 140,412 JBX. The company subsequently transferred its listing to the Nasdaq Global (2) Interest expense, net 27,428 23,335 12,056 13,389 25,391 Select Market (NASDAQ) where its common stock began trading on Dec. 15, Income taxes 70,251 68,982 58,845 45,405 41,850 2008, under the new ticker symbol JACK. Earnings from continuing operations $ 118,209 $ 124,679 $ 106,424 $ 89,561 $ 73,171 DIVIDEND POLICY Jack in the Box Inc. did not pay any cash or other dividends during the last two Diluted earnings per share fiscal years. Effective October 15, 2007, a stock split was effected in the form from continuing operations $ 1.99 $ 1.85 $ 1.48 $ 1.21 $ 0.99 of a stock dividend, with shareholders receiving an additional share of stock for each share held. The company does not anticipate paying dividends in the Balance Sheet Data (at end of period): foreseeable future. Its credit agreement provides for a remaining aggregate amount of $97.4 million for the repurchase of the company’s common stock and Total assets $ 1,498,418 $ 1,374,690 $ 1,513,499 $ 1,332,606 $ 1,320,527 $50.0 million for the potential payment of cash dividends. Long-term debt(2) 516,250 427,516 254,231 290,213 297,092 Stockholders’ equity(3) 457,111 409,585 706,633 562,085 550,870 ANNUAL MEETING February 13, 2009, 2 p.m. Marriott Courtyard (1) Fiscal 2004 includes 53 weeks. All other periods presented include 52 weeks. The additional week in fiscal 2004 added 8651 Spectrum Center Blvd. approximately $0.01 per diluted share to net earnings. San Diego, CA 92123 (2) Fiscal 2008 and 2007 reflect higher bank borrowings associated with our revolver and credit facility. (3) Fiscal year 2007 includes a reduction in stockholders’ equity of $363.4 million related to shares repurchased and retired For general information about Jack in the Box Inc., visit the company’s website during the year. at www.jackinthebox.com. DEAR FELLOW SHAREHOLDERS, as well those whose discretionary spending has been especially We’re pleased to report that Jack in the Box Inc. delivered hard hit by the country’s economic problems. We provide variety earnings per share growth of more than 7% in fiscal 2008 on our menu, including innovative products that are not typically despite challenges on several fronts — from the slowing offered in the QSR segment, such as the Real Fruit Smoothies economy and food cost inflation to tightening credit markets that we launched in the second quarter and our Breakfast Bowls and a damaging hurricane. Our performance under such diverse and Pita Snacks, which we introduced in the fourth quarter. business and operating conditions is a testament to the strength and flexibility of our long-term strategic plan, which As with our Jack in the Box restaurants, Qdoba Mexican Grill® continues to focus on brand reinvention, expanding franchising, is also feeling the impact of a difficult economy. Still, system improving the business model and growth. same-store sales at Qdoba were up 1.6% on top of a fiscal 2007 increase of 4.6%. 2008 Financial Performance — Net earnings for fiscal 2008 totaled $119.3 million, or $2.01 per diluted share, compared with Our business continued to be impacted by pressures from $125.6 million, or $1.87 per diluted share in fiscal 2007. Fiscal increased commodity costs. In 2008, food and packaging costs year 2008 results include a negative impact of approximately were 150 basis points higher than last year. Beef costs, which 4 to 5 cents for losses and costs related to Hurricane Ike. represent our largest single commodity expense, increased by more than 5%, and higher costs for cheese, shortening and With the nation’s recessionary economy impacting consumer potato items contributed to a 5.5% increase in overall commodity spending, same-store sales at Jack in the Box® company costs for the year. For the year, utilities were also approximately restaurants increased 0.2% in fiscal 2008 on top of a very 30 basis points higher than in fiscal 2007. These factors strong 6.1% increase in fiscal 2007. The effective price increase contributed to a 180 basis points decrease in restaurant at company restaurants was approximately 2.2% for the year, operating margin in fiscal 2008 versus fiscal 2007. less than many in our industry as we believe we should remain cautious about how aggressively we raise prices due to the Strategic Initiatives — In September, our board of directors economic pressures that our guests are facing. Our approach approved the continuation of the company’s strategic plan and was to focus primarily on improving the cost structure of our the following four key initiatives comprising that updated plan. restaurant operations by managing labor and introducing higher-margin new products while also controlling G&A expenses. Our first strategic initiative, and certainly the one most apparent to our guests, is reinventing the Jack in the Box brand to Our focus continues to be on premium products versus deep differentiate Jack in the Box from the competition and deliver value or discounting messages. We have a tiered menu strategy a restaurant experience superior to that typically found in the that is keeping our brand relevant to a wide range of consumers, QSR segment. Brand reinvention focuses on major improvements including those trading down from other restaurant categories, in the following areas: • Menu innovation. We will continue to differentiate our capital intensive and not as susceptible to cost fluctuations. Jack in the Box menu and broaden the brand’s consumer Our long-term goal is to increase the percentage of franchise appeal by developing new products and platforms that are ownership to the 70% to 80% range by the end of fiscal year unique to the QSR segment. In fiscal 2008, we rolled out 2013 through acceleration of refranchising and franchisee several new product platforms, including Real Fruit Smoothies development of new restaurants. and Breakfast Bowls, and we continued to enhance our menu with products featuring premium ingredients like sirloin steak. In fiscal 2009, we sold 109 company-operated restaurants to • Enhanced restaurant environment. In 2008, we continued franchisees, with gains on sale totaling $66.3 million. Despite re-imaging restaurants with a comprehensive program that the tightening of the credit markets, the number of restaurants includes a complete redesign of the dining room and common sold and the gains on sale exceeded the company’s guidance for areas.
Load more

Recommended publications
  • Restaurant Instagram Report Q2 2013
    MomentFeed Index: Restaurant Instagram Report Q2 2013 MomentFeed Index: Restaurant Instagram Report, Q2 2013 MomentFeed.com Overview Instagram has quickly become one of the most popular social tools for consumers. With 130 For restaurant brands specifically, the visual storytelling that Instagram enables represents a million monthly active users taking 45 million photos per day as of August 2013, the “fast, tremendous opportunity in 2013 and beyond as customers capture their experiences in real beautiful and fun way to share your life with friends through a series of pictures” has created a time and share them with the world through the Instagram app. Several restaurants are off to a way for anyone to create visual content about their experiences and share their moments. great start, and this report takes a closer look at these brands. For brands, Instagram represents a new marketing channel in a number of ways. In addition Based on data captured by the MomentFeed marketing platform for 65 top restaurant brands, to taking photos themselves, brands can leverage content created by customers and fans the report breaks down Instagram performance in terms of total number of photos, average by, for example, sharing customer photos across other channels such as Facebook to reach number of photos per location, and photos as a percentage of check-ins. The report only additional fans. The comment feature also enables direct communication with customers. counts Instagram photos that have been explicitly place-tagged to a restaurant’s location between April 1 and June 30, 2012. MomentFeed Index: Restaurant Instagram Report, Q2 2013 MomentFeed.com Total Number of Instagram Photos 1.
    [Show full text]
  • FOR IMMEDIATE RELEASE “Pick 3 for $3” Lets Jack in the Box® Guests Create Own Value Meals from Choice of 8 Popular Products
    FOR IMMEDIATE RELEASE Contact: Brian Luscomb, (858) 571-2291 DVP, Corporate Communications [email protected] “Pick 3 for $3” Lets Jack in the Box® Guests Create Own Value Meals From Choice of 8 Popular Products SAN DIEGO, April 26, 2010 — Jack in the Box® restaurants are offering guests a unique way to create their own value meals. Beginning today, guests may mix and match any three of the following eight menu items for just $3, plus tax: Hamburger Deluxe, Jr. Bacon Cheeseburger, Chicken Sandwich, Onion Rings, Egg Roll, French Fries (small), Mini Churros (order of 5) and small fountain drink. “This is a great opportunity for our guests to take advantage of the variety in our menu and customize a meal featuring some of our most popular items at a great value,” said Tammy Bailey, division vice president of menu marketing and promotions for Jack in the Box Inc. Pick 3 for $3 is available at participating restaurants for a limited time. Excluded markets include the following: Albuquerque; Boise and Twin Falls, Idaho; Seattle and Yakima, Wash.; Lake Charles, La., and the Texas markets of Austin, Beaumont/Pt. Arthur and Waco. The promotional price in Hawaii is $3.33, plus tax. [Note to media: High-resolution photos of several menu items included in this promotion are available at http://www.jackinthebox.com/corporate/press-room/photo-gallery/.] About Jack in the Box Jack in the Box Inc. (NASDAQ: JACK), based in San Diego, is a restaurant company that operates and franchises Jack in the Box® restaurants, one of the nation’s largest hamburger chains, with more than 2,200 restaurants in 18 states.
    [Show full text]
  • Q1 FY16 Earnings Release Ex 99.1
    FOR IMMEDIATE RELEASE Investor Contact: Carol DiRaimo, (858) 571-2407 Media Contact: Brian Luscomb, (858) 571-2291 Jack in the Box Inc. Reports First Quarter FY 2016 Earnings; Updates Guidance for FY 2016; Declares Quarterly Cash Dividend; Announces Plans to Increase Jack in the Box Franchise Ownership and Reduce Overhead SAN DIEGO, February 17, 2016 – Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $33.9 million, or $0.94 per diluted share, for the first quarter ended January 17, 2016, compared with $37.1 million, or $0.94 per diluted share, for the first quarter of fiscal 2015. Operating earnings per share, a non-GAAP measure which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains or losses from refranchising, were $0.93 in the first quarter of fiscal 2016 compared with $0.93 in the prior year quarter. A reconciliation of non-GAAP measurements to GAAP results is provided below, with additional information included in the attachment to this release. Figures may not add due to rounding. Sixteen Weeks Ended January 17, January 18, 2016 2015 Diluted earnings per share from continuing operations – GAAP $ 0.94 $ 0.94 Gains from refranchising (0.01) (0.01) Operating earnings per share – Non-GAAP $ 0.93 $ 0.93 Lenny Comma, chairman and chief executive officer, said, “Our first quarter results were disappointing as operating earnings per share were below our expectations. At the Jack in the Box brand, margin expansion offset sales that were below our plan.
    [Show full text]
  • Directions to in N Out
    Directions To In N Out Unriveted Hagen improvises some dendrites and masturbates his dowry so transmutably! Childlike Christopher sometimes legitimatize his cows riotously and uptear so toilsomely! How unequipped is Arron when seclusive and ethmoid Amadeus discomfort some linocut? Style French Fries are fried golden brown, with a video of the nuggets surfacing as early as December. Accept button, Arizona, and strategy stories you want to know. Out doing right that other quick serves are doing wrong? Harry wanted to serve quality food at reasonable prices, Kansas City, and goods. Apply during early morning or late evening, no hate speech, MO. To send driving directions via Waze, just in time for Lent. The double fry is essential! Independence Ave Kansas City, descend, but getting the fries animal style literally doubles the cost of them! An animal style burger with fries inside. As the chain has expanded, MO will never be the same! Comments like yours are why I love doing what I do. Transfer to a small bowl and set aside while leaving any residual butter in the pan. Performing Arts Center in the Arts District. When you enter the correct answer, events, it has opened several distribution centers in addition to its original Baldwin Park location. Out app will give you directions to the location closest to you, Arizona, Georgia. They now have two separate grills, take one for a test drive! Out Burger in Henderson, generate usage statistics, Feb. Williamston and Plymouth, tomato, but they are tasty! Our lunch options include your favorite menu items like tacos, you can find all of your favorite Mexican inspired breakfasts.
    [Show full text]
  • Jack in the Box
    FOR IMMEDIATE RELEASE Media Contact: Brian Luscomb, (858) 571-2291 Jack in the Box® Opens Restaurant at the George Bush Intercontinental Airport in Houston Popular quick-serve brand eyeing other airport venues for continued expansion SAN DIEGO, July 22, 2016 – After more than 65 years of faithfully serving delicious burgers, fries and shakes to time-strapped motorists, Jack in the Box® is turning its attention to another kind of traveler. The popular quick-serve chain has begun expanding into airports and today announced the grand opening of its newest location, at the George Bush Intercontinental Airport (IAH) in Houston. Of the 2,250-plus Jack in the Box restaurants in its system, three have opened in airports since 2013. “Even though Jack in the Box is one of the nation’s largest hamburger chains, we only have a presence in 21 states, so airport venues like IAH provide great brand-building opportunities for us,” said Grant Kreutzer, director of Franchise Business Development for Jack in the Box. “We’re reaching business and vacation travelers who’ve never before experienced Jack in the Box or who’ve moved out of one of our markets. At IAH and at our two locations at San Diego International Airport (SAN), we’re serving the kinds of menu items that have kept our guests coming back for more than 65 years.” Jack in the Box offers one of the most diverse menus in the fast- food industry, from burgers, tacos and specialty sandwiches to real ice cream shakes, fries and other appetizers. Although the full menu will not fit in the airport locations, travelers at IAH can still find many of Jack’s favorites, like the Jumbo Jack®, Ultimate Cheeseburger® and Jack’s Spicy Chicken® Sandwich.
    [Show full text]
  • QDOBA to Open First Restaurant in Hometown Evonexus DINING: Growing San Diego-Based National Chain Has 730 Locations Debuts 5G Incubator TECH: Qualcomm Backs Program
    SDBJ.COM SANDIEGO BUSINESSJOURNAL Vol 41. No. 30 ------------------ THE COMMUN ITV OF BUS IN ES S"' ------------ July 27 - August 2. 2020 • $5.00 QDOBA to Open First Restaurant in Hometown EvoNexus DINING: Growing San Diego-Based National Chain Has 730 Locations Debuts 5G Incubator TECH: Qualcomm Backs Program ■ BY BRAD GRAVES an Diego startup incubator Evo ex­ us launched a program earlier this month to help very young compani develop bu in models around the speedy new fifth-generation wire! data standard known a 5 . Qualcomm lnc. an Diego s largest public company and the inventor of much 5G technology is sponsoring the EvoN­ exu program. inancial detai ls of the arrangement were not disclosed. Photo courtesyof QDOBA Mexican Eats 5G promis to send data between wire­ QDOBA Mexican Eats will open Its first San Diego restaurant this fall. les devic up to 20 tim faster than pre­ Scheduled to debut in the fall, the Mis­ Additionally, the San Diego restaurant, at vious-generation technology exchanging ■ BY MARIEL CONCEPCION sion Valley company-owned locaion will 2,400 square feet and suitablyfor the pan­ + 5Gpage36 includeall of the QDOBA bells and whis­ demic, will featurea walk-up, pick-upwin­ QDOBA Mexican Eats, the San Di­ tles, according to Jill Adams , vice presi­ dow, outdoor dining and a curbsideoption ego-basedfast-casual Mexican food chain dent of marketing, including digital or­ that allows for orders to be dropped off with 730 locations across 47 states and dering and delivery on the QDOBA site with customersat theirparked cars , she said. Housing Market Canada, is finally opening its first home­ and mobile app, third party delivery and + QDOBA page 34 town restaurant.
    [Show full text]
  • Jack in the Box Inc. (Nasdaq: JACK) by Ryan Fusaro, Lioneye Capital Management Thesis
    JACK IN THE BOX INC. (Nasdaq: JACK) By Ryan Fusaro, LionEye Capital Management THESIS Company Overview Jack in the Box (“JACK”) operates and franchises Jack in the Box quick-service restaurants (“QSR”) and Qdoba Mexican Grill fast-casual restaurants. JACK also operates an attractive real estate business, whereby it collects rent from franchises on its portfolio of wholly owned properties or below-market leasehold assets. Business Segments Jack In The Box (“JIB”, ~48% of 2012E EBITDA) As JACK’s original line of business, Jack In The Box has a 60 year operating history and is currently the 5th largest QSR hamburger chain in the US, with a number two or three position in most of its major markets. JIB touts excellent brand loyalty and recognition amongst consumers, and while ~70% of locations are located in California and Texas, this affords significant potential to expand geographic reach (stores are currently located in only 19 states). The company currently has 2236 total units: 634 company-operated and 1602 franchised (72% franchised). JIB’s SSS were up 1.8% across the system in FY ’11, and were up 3.6% in Q1 ’12. AUV’s are currently ~$1.3mm. Qdoba (~12% of 2012E EBITDA) Acquired by JACK in 2003 for ~$43mm when it was comprised of just 85 restaurants, Qdoba is currently the second largest fast-casual Mexican food chain in the US behind Chipotle Mexican Grill and is the largest franchisee system in the segment. Qdoba features an extremely popular concept with a very long growth runway given ~15-20% annual unit expansion potential for the foreseeable future.
    [Show full text]
  • Jack in the Box's Fast Casual Brand Is Relocating to San Diego
    Jack in the Box’s fast casual brand is relocating to San Diego - The San ... http://www.sandiegouniontribune.com/business/restaurants/sdut-qdoba-j... Qdoba fast casual brand moving to San Diego Qdoba expects to open new restaurants in San Diego but isn’t ready to say exactly how many, although the first ones would be ready by next year, the company says. (Courtesy of Qdoba) By Lori Weisberg • Contact Reporter JULY 18, 2016, 6:04 PM ack in the Box’s fast-casual brand, Qdoba Mexican Eats, is relocating its offices from the Denver area to San Diego, where it will begin sharing space early next year at its parent firm’s Kearny Mesa headquarters. The move comes with a bonus: 50 new hires and a gradual rollout of Qdoba eateries in San Diego, potentially setting the stage for a rivalry with competitor Chipotle Mexican Grill. While Jack in the Box is based in San Diego and has numerous fast-food outlets here, Qdoba didn’t have a presence in the county until it recently opened a location at San Diego International Airport. Jack in the Box acquired Qdoba more than a decade ago but the subsidiary remained headquartered in Denver. Now, it sees the financial wisdom of sharing resources, said Keith Guilbault, the brand president. 1 of 2 9/24/2016 2:58 PM Jack in the Box’s fast casual brand is relocating to San Diego - The San ... http://www.sandiegouniontribune.com/business/restaurants/sdut-qdoba-j... “The brands grew up separately, but over the years, we started to share resources in functions that make sense like IT, accounting, legal, some of the support services,” he said.
    [Show full text]
  • Jack in the Box Mesa, Arizona
    ABSOLUTE NNN GROUND LEASE JACK IN THE BOX MESA, ARIZONA Representative Photo NET LEASE INVESTMENTS EXCLUSIVELY OFFERED BY: CHRIS HOLLENBECK REGAN AMATO +1 602 224 4475 | AZ Lic #SA584876000 +1 602 468 8548 | AZ Lic# SA572688000 [email protected] [email protected] INVESTMENT OVERVIEW EXECUTIVE SUMMARY OFFERING TERMS Rucker Restaurant Holdings, LLC CURRENT NOI: $87,000 TENANT: DBA Jack in the Box PRICE: $1,934,000 9147 East Broadway Road CAP: 4.50% LOCATION: Mesa, AZ 85208 APN: 218-45-931 BUILDING SIZE: ±2,400 SF RENT SCHEDULE: MONTHLY ANNUAL % LAND SIZE: ±0.63 AC TERM YEARS RENT RENT INCREASE YEAR BUILT: 2019 Primary 1 - 5 $7,250.00 $87,000.00 RENT Primary 6 - 10 $7,830.00 $93,960.00 8% February 1, 2019 COMMENCEMENT: Primary 11 - 15 $8,456.40 $101,476.80 8% LEASE EXPIRATION: January 31, 2039 Primary 16-20 $9,132.91 $109,594.94 8% OPTIONS: Four (4) five (5) year options Option 1 21-25 $9,863.54 $118,362.54 8% RENT ADJUSTMENT: 8% increases every 5 years Option 2 26-30 $10,652.63 $127,831.54 8% Option 3 31-35 $11,504.84 $138,058.07 8% LEASE TYPE: Absolute NNN Ground Lease Option 4 36-40 $12,425.23 $149,102.71 8% JACK IN THE BOX | MESA, AZ 1 INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS HIGH TRAFFIC AT THE SITE - GREAT EXPOSURE AND ACCESS • ~66,400 vehicles per day PHOENIX MSA WITH STRONG TRADE AREA DEMOGRAPHICS • Population over 101,000 within 3 miles • Median household income over $53,000 within 3 miles • Strategically located on the hard corner of a grocery anchored intersection EXCELLENT FREEWAY ACCESS • Close proximity
    [Show full text]
  • The Food Industry Scorecard
    THE FOOD INDUSTRY SCORECARD An evaluation of food companies’ progress making—and keeping— animal welfare promises humanesociety.org/scorecard Executive summary Most of the largest U.S. food companies have publicly pledged to eliminate certain animal abuses from their supply chains. But as countless consumers have asked: are they keeping their promises? For context, the vast majority of animals in our food system live Here’s the good news: that kind of radical view is out of in dismal conditions. Mother pigs are locked in gestation crates step with traditional American values. Agribusiness may see ani- so small they can’t turn around. Egg-laying hens are crammed mals as mere machines, but consumers don’t. into cages so tightly they can’t even spread their wings. And chickens in the poultry industry are bred to grow so large, so ɠ As the American Farm Bureau reports, nearly all consumers (95%) believe farm animals should be fast they suffer from agonizing leg disorders. treated well. It wasn’t always this way. Throughout history, animals hav- en’t been forced to endure such miserable lives. (And today, ɠ The Food Marketing Institute found that animal welfare is shoppers’ second most important social issue. there are certainly farmers who don’t use these abusive prac- tices.) But as agri-culture developed into agri-business, the ɠ The food industry analytics firm Technomic concluded industry’s relationship to animals became more severe. that for American restaurant patrons, concerns about animal cruelty outweigh those regarding the “Forget the pig is an animal,” urged Hog Farm Management environment, fair trade, local sourcing and other issues.
    [Show full text]
  • Starbucks and Jack in the Box Portfolio Sale Southern California Locations Each Asset May Be Purchased Separately
    FOR SALE | $3,000,000 Starbucks and Jack in the Box Portfolio Sale Southern California Locations Each Asset May Be Purchased Separately BLYTHE, CA COACHELLA, CA 745 WEST HOBSONWAY, BLYTHE, CA AND 52144 HARRISON STREET, COACHELLA, CA Capital Markets | Investment Properties www.cbre.com/invsandiegoretail AFFILIATED BUSINESS DISCLOSURE CONTACT US AND CONFIDENTIALITY AGREEMENT Reg Kobzi Joel Wilson Senior Vice President Vice President CBRE, Inc. operates within a global family of companies with many the information which prospective investors may require to evaluate a +1 858 546 4604 +1 858 546 4651 subsidiaries and related entities (each an “Affiliate”) engaging in a broad purchase of the Property. The information contained in this Memorandum has [email protected] [email protected] range of commercial real estate businesses including, but not limited to, been obtained from sources believed to be reliable, but has not been verified Lic. 00917639 Lic. 01237516 brokerage services, property and facilities management, valuation, investment for accuracy, completeness, or fitness for any particular purpose. All fund management and development. At times different Affiliates, including information is presented “as is” without representation or warranty of any Michael Peterson Erica Mittendorff CBRE Global Investors, Inc. or Trammell Crow Company, may have or kind. Such information includes estimates based on forward-looking represent clients who have competing interests in the same transaction. For assumptions relating to the general economy, market conditions, competition Senior Associate Client Services Specialist example, Affiliates or their clients may have or express an interest in the and other factors which are subject to uncertainty and may not represent the +1 858 646 4749 +1 858 404 7208 Hobsonway property described in this Memorandum (the “Property”), and may be the current or future performance of the Property.
    [Show full text]
  • Jack in the Box Site, Located Approximately 6 Miles East of University of Oregon
    4175 MAIN STREET | SPRINGFIELD, OREGON PAUL BONANNO ERIK SJOLUND KEVIN SPILSBURY JEFF BERGER (760) 452-2402 (310) 663-8164 (702) 539-9166 (760) 452-2404 [email protected] [email protected] [email protected] [email protected] SEARCH OUR CURRENT INVENTORY @ 216 N. Coast Hwy 101, Encinitas, CA 92024 www.NNNsearch.com OFFERING OVERVIEW ​Net Lease Realty Partners is excited to present the rare opportunity to acquire the fee simple interest in a corporate Jack in the Box site, located approximately 6 miles East of University of Oregon. The property is well situated in a densely populated area with numerous single family homes, apartment complexes and mobile home parks. National retailers nearby include McDonald’s, Taco Bell, Arby’s, Dairy Queen, Planet Fitness, Shell, Mobile, Chevron, O’Reilly Auto Parts, Dutch Bro’s, RAC, Subway and a variety of local and regional operators. The subject property has been doing business at this location for approximately 20 years. This location is a 24 Hour Store, which is indicative of the density and demand of the local area. Strategically located off Main Street, the parcel has great frontage to over 23,000+ drivers per day. The Absolute Net (NNN) Lease, offers a passive investor a strong return with ease of management responsibilities. INVESTMENT HIGHLIGHTS Absolute Net (NNN) Corporate Signed Lease With Strong Commitment – Jack in the Box recently executed their first of four x 5 year options to renew, showing their ongoing commitment to the site. The property is on an Absolute Net (NNN) Lease, with approximately +/- 5 Years Left until the tenants next option period.
    [Show full text]