Jack in the Box (JACK) Reaches Agreement With PAR Technology
Jack in the Box (JACK) collaborates with PAR, thereby boosting its digital experience for customers.
Jack in the Box Inc. JACK recently announced that it has entered into a collaboration with ParTech, Inc. PAR — an international restaurant technology company that provides a unified commerce cloud platform to enterprise restaurants. The association involves the integration of a new online digital loyalty program — Punchh, across 2,219 Jack in the Box restaurants.
Per the collaboration, Punchh will update Jack in the Box’s online ordering interface and will be adding a loyalty program to provide an upgraded app and enhance digital experience for customers. Additionally, Punchh will include add-on coupons and promotions that allow Jack in the Box to send offers to targeted guests, thereby boosting the brands promotion.
With respect to this, Ryan Ostrom, executive vice president and chief marketing officer of Jack in the Box, stated, “Just like our brand, Punchh lives outside of the box with its streamlined, cutting-edge technology. Jack in the Box is known for spearheading conveniences for our guests, so it’s a perfect fit for us to reach more fans across the country with our crave-worthy offers through Punchh’s loyalty solution.”
Focus on Digital Channel Driving Growth
Jack in the Box restaurants largely depend on investing in innovation and enhancing digital solutions for its customers. The implementation of digital menu board and menu board canopies is part of the company’s developmental plans. Moreover, to serve the communities through delivery, drive-thru and mobile app, the company launched #StayInTheBox campaign to promote “shelter-in-place” mandates. It also developed ads to communicate its dedication for safety protocols while delivering services.
Jack in the Box is investing aggressively in store improvements and new store build, innovating via digital operations. Moreover, the company is using its digital platforms for enhancing overall guest experiences and customer satisfaction. To date, the company’s digital database has grown 30% and it expects digital channel sales to hit the mark of 10% in the near term.
Shares of Jack in the Box have gained 23.5% over the past year compared with the Zacks Retail - Restaurants industry’s 24.6% growth. The company’s earnings estimates for fiscal year 2021 have moved up 6.2% over the past 60 days, depicting analysts’ optimism regarding its bottom-line growth potential.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Jack in the Box carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the same space include The Wendy's Company WEN and Yum! Brands, Inc. YUM, each sporting a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wendy's and Yum! Brands’ earnings for 2021 are expected to rise 42.1% and 22.4%, respectively.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Jack In The Box Inc. (JACK): Free Stock Analysis Report
Yum Brands, Inc. (YUM): Free Stock Analysis Report
The Wendys Company (WEN): Free Stock Analysis Report
PAR Technology Corporation (PAR): Free Stock Analysis Report
To read this article on Zacks.com click here.