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Linda Lang, Jack in the Box Inc.'s chair and chief executive, said Wednesday that she plans to retire as of Jan. 1, 2014, and will be replaced by Leonard Comma, the San Diego-based company's president and chief operating officer.
The announcement came as the parent to the Jack in the Box and Qdoba Mexican Grill chains reported a net loss of $5.7 million, or a loss of 13 cents per share, for the July 7-ended third quarter compared with net income of $11.6 million, or 26 cents per share, a year ago.
The loss, however, reflected $36.7 million in pre-tax charges and another $11.4 million in charges related to lease obligations associated with the planned closure of 67 underperforming Qdoba locations, mostly during the third quarter.
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Looking only at continuing operations, the company recorded a 37-percent increase in earnings of $17.3 million, or 38 cents per share, compared with $12.6 million, or 28 cents per share, a...