Exhibit 99.1

Jack in the Box Inc. Reports Third Quarter FY 2011 Earnings; Updates Guidance for FY 2011

SAN DIEGO--(BUSINESS WIRE)--August 10, 2011--Jack in the Box Inc. (NASDAQ:JACK) today reported net earnings of $18.7 million, or $0.38 per diluted share, for the third quarter ended July 10, 2011, compared with net earnings of $24.2 million, or $0.44 per diluted share, for the third quarter of fiscal 2010.

Gains from refranchising contributed approximately $0.13 per diluted share for the quarter as compared with approximately $0.26 per diluted share in the prior year quarter. Operating earnings per share, a non-GAAP measure which the company defines as diluted earnings per share on a GAAP basis less gains from refranchising, were approximately $0.25 per diluted share compared with approximately $0.18 per diluted share in the prior year quarter.

Increase (decrease) in same-store sales:

Linda A. Lang, chairman, chief executive officer and president, said, “Jack in the Box company same-store sales increased 4.7 percent in the third quarter, ahead of our expectations, driven by strong traffic growth and an increase in the average check. On a two-year basis, this represented our fourth consecutive quarter of sequentially improving trends, which we believe has been largely driven by the investments we have made to enhance the entire guest experience at the Jack in the Box brand.

“Qdoba’s same-store sales momentum continued in the third quarter with an increase of 5.1 percent system-wide, driven by a combination of transaction growth, pricing and higher catering sales,” Lang said.

Consolidated restaurant operating margin was 12.5 percent of sales in the third quarter of 2011, compared with 14.2 percent of sales in the year-ago quarter.

Food and packaging costs in the quarter were 210 basis points higher than prior year. Overall commodity costs were approximately 6.5 percent higher in the quarter, driven by higher costs for beef, cheese, dairy, eggs and shortening.

Payroll and employee benefits costs were 80 basis points lower than the year-ago quarter, reflecting leverage from same-store sales increases and lower insurance costs. These decreases were partially offset by higher unemployment taxes resulting from rate increases in several states which negatively impacted payroll and employee benefits costs.

Occupancy and other costs increased 50 basis points in the third quarter due primarily to costs associated with the rollout of new menu boards and uniforms at Jack in the Box restaurants during the quarter. In addition, rent expense was higher as a percentage of sales due to the greater proportion of company-operated Qdoba restaurants versus the prior year. These costs were partially offset by lower utilities expense and leverage from same-store sales increases.

SG&A expense for the third quarter decreased by $5.7 million and was 9.9 percent of revenues compared with 10.9 percent last year. The decrease in SG&A was attributable primarily to the following:

• Advertising costs were $6.0 million lower due to the impact of refranchising of Jack in the Box restaurants and a $2.3 million decrease in incremental spending compared to the third quarter of 2010.
• Mark-to-market adjustments on investments supporting the company’s non-qualified retirement plans had no impact on SG&A in the third quarter as compared to a negative impact of $2.2 million in last year’s third quarter, resulting in a year-over-year decrease in SG&A of $2.2 million.
• Pension expense decreased by approximately $1.2 million due primarily to the company’s previously announced decision to sunset its pension plan, whereby participants will no longer accrue benefits after December 31, 2015.

• The company’s refranchising strategy and planned overhead reductions resulted in lower general and administrative costs of approximately $0.4 million.

These decreases were partially offset by the following:

• An insurance recovery related to Hurricane Ike resulted in a $2.0 million benefit to SG&A in the prior year.
• Incentive compensation accruals were $0.8 million higher in the quarter.
• Qdoba G&A increased by $0.5 million due primarily to higher overhead to support recently acquired markets and new unit growth.

With the sale of 226 restaurants year-to-date, the Jack in the Box system was two-thirds franchised as of the end of the third quarter. Gains on the sale of 112 company-operated Jack in the Box restaurants to franchisees totaled $10.2 million in the third quarter, or approximately $0.13 per diluted share, compared with $23.7 million, or approximately $0.26 per diluted share, in the year-ago quarter from the sale of 58 restaurants. For the third quarter of 2011, average gains were $91,000 per restaurant, and total proceeds related to refranchising were $27.3 million, or an average of $244,000 per restaurant. The restaurants sold in the third quarter included 70 restaurants in one market that had lower-than-average sales volumes and cash flows that resulted in lower gains. The re-image costs related to these restaurants will now be the responsibility of the franchisee, and the company expects the sale of these restaurants to be accretive to future operating earnings. Excluding these 70 restaurants, average gains and proceeds for the quarter were $233,000 and $410,000, respectively. The company did not provide any financing during the quarter related to refranchising. As of the end of the third quarter, notes receivable from franchisees related to refranchising activities totaled $10.3 million.

The company repurchased approximately 2,993,000 shares of its common stock in the third quarter of 2011 at an average price of $21.65 per share. Through the first three quarters of fiscal 2011, the company has returned nearly $140 million to shareholders through the repurchase of approximately 6,469,000 shares of its common stock at an average price of $21.61 per share. As of the end of the third quarter, approximately $60 million remained available to repurchase stock under a board authorization that expires in November 2012.

Restaurant openings

Five new Jack in the Box restaurants opened in the third quarter, including one franchised location, compared with four new restaurants opened system-wide during the same quarter last year, of which two were franchised. In the third quarter, 17 Qdoba restaurants opened, including 11 franchised locations, versus 13 new restaurants in the year-ago quarter, of which 8 were franchised. At July 10, 2011, the company’s system total comprised 2,220 Jack in the Box restaurants, including 1,485 franchised locations, and 564 Qdoba restaurants, including 335 franchised locations.

Guidance

The following guidance and underlying assumptions reflect the company’s current expectations for the fourth quarter and fiscal year ending Oct. 2, 2011. Fiscal 2011 is a 52-week year, with 16 weeks in the first quarter, and 12 weeks in each of the second, third and fourth quarters. Fiscal 2010 was a 53-week year, with the additional week occurring in the fourth quarter.

Fourth quarter fiscal year 2011 guidance

• Same-store sales are expected to increase approximately 1 to 3 percent at Jack in the Box company restaurants versus a 4.0 percent decrease in the year-ago quarter.
• Same-store sales are expected to increase approximately 3 to 5 percent at Qdoba system restaurants versus a 5.6 percent increase in the year-ago quarter.
• Same-store sales guidance reflects trends experienced during the first four weeks of the fourth quarter.
• Commodity costs for the quarter are currently expected to increase by approximately 7 percent, driven by higher costs for most commodities other than poultry.

Fiscal year 2011 guidance

• Same-store sales are expected to increase approximately 2 to 3 percent at Jack in the Box company restaurants.
• Same-store sales are expected to increase approximately 5 to 6 percent at Qdoba system restaurants.
• Overall commodity costs are expected to increase by approximately 5 percent for the full year.

• Restaurant operating margin for the full year is expected to range from 12.5 to 13.0 percent, depending on same-store sales and commodity inflation.
• 30 to 35 new Jack in the Box restaurants, including approximately 16 company locations.
• 60 to 70 new Qdoba restaurants, including approximately 25 company locations.
• $55 to $60 million in gains on the sale of 250 to 300 Jack in the Box restaurants to franchisees, with $95 to $105 million in total proceeds resulting from the sales.
• Capital expenditures of $120 to $125 million.
• SG&A expense in the low-10 percent range, excluding impairment and other charges of 70 to 80 basis points.
• Tax rate of approximately 35 percent.
• Diluted earnings per share of $1.46 to $1.60, with the range reflecting uncertainty in the timing of anticipated refranchising transactions as well as same-store sales results and commodity inflation. Gains from refranchising are expected to contribute from $0.71 to $0.78 to diluted earnings per share, as compared to $0.65 in fiscal 2010. Operating earnings per share, which the company defines as diluted earnings per share on a GAAP basis less gains from refranchising, are expected to range from $0.75 to $0.82 per diluted share. Diluted earnings per share includes approximately $0.09 to $0.11 of incremental re-image incentive payments to franchisees in fiscal 2011 as compared to fiscal 2010.

Conference call

The company will host a conference call for financial analysts and investors on Thursday, August 11, 2011, beginning at 9:00 a.m. PT (12:00 p.m. ET). The conference call will be broadcast live over the Internet via the Jack in the Box website. To access the live call through the Internet, log onto the Investors section of the Jack in the Box Inc. website at http://investors.jackinthebox.com at least 15 minutes prior to the event in order to download and install any necessary audio software. A replay of the call will be available through the Jack in the Box Inc. corporate website for 21 days, beginning at approximately 11:00 a.m. PT on August 11.

About Jack in the Box Inc.

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 19 states. Additionally, through a wholly owned subsidiary, the company operates and franchises Qdoba Mexican Grill^®, a leader in fast-casual dining, with more than 550 restaurants in 42 states and the District of Columbia. For more information, visit www.jackinthebox.com.

Safe harbor statement

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to substantial risks and uncertainties. A variety of factors could cause the company’s actual results to differ materially from those expressed in the forward-looking statements, including the success of new products and marketing initiatives, the impact of competition, stock market volatility, unemployment, trends in consumer spending patterns, commodity costs, and timing of sales of Jack in the Box restaurants to franchisees. These factors are discussed in the company’s annual report on Form 10-K and its periodic reports on Form 10-Q filed with the Securities and Exchange Commission which are available online at www.jackinthebox.com or in hard copy upon request. The company undertakes no obligation to update or revise any forward-looking statement, whether as the result of new information or otherwise.

The following table summarizes the year-to-date changes in the number of Jack in the Box and Qdoba company-operated and franchised restaurants:

CONTACT:
Jack in the Box Inc.
Investor Contact:
Carol DiRaimo, (858) 571-2407
Media Contact:
Brian Luscomb, (858) 571-2291