Jack in the Box Expects Profit to Beat Estimates

Jack in the Box Inc. said profit in the fiscal third and fourth quarters will exceed expectations as the fast-food chain converts five company sites to franchised units and spends less on food and packaging.

The San Diego-based company also said sales will get a boost in the second half of the year from the introduction of a sandwich and increased advertising on lower-price items, the company said.

The company raised its forecast for third-quarter profit to 60 cents a share from its earlier guidance of 57 cents and hiked its fourth-quarter forecast by 11 cents to 67 cents. Analysts on average were expecting earnings of 57 cents and 58 cents, respectively, according to Thomson First Call.

Shares of Jack in the Box rose 9 cents to $32.52 on the New York Stock Exchange.