Jack in the Box to Sell Del Taco at a Big Markdown. The Stock Plunged.
1. Jack in the Box stock fell 9% after selling Del Taco for $115 million. 2. Del Taco's sale significantly undercuts its 2022 purchase price of $585 million. 3. Six quarters of declining sales reflect broader industry struggles and rising costs. 4. Proceeds will be used to reduce debt and focus on core burger business. 5. Market pressures include inflation and decreased consumer spending affecting fast-food sales.