Jack in the Box Closing 40 Restaurants

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Jack in the BoxJack in the Box Inc. (JACK) will close 40 under-performing restaurants, mainly in Texas and the south-east.

The fast food company will close the restaurants by the end of the fiscal year on Oct. 3, Jack in the Box said in a statement. Jack in the Box has a total of more than 2,200 restaurants.

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"These restaurant closures are expected to have a positive impact on our future earnings, cash flow and return on invested capital," CEO Linda Lang said.

The company expects pre-tax charges in the fourth quarter of fiscal 2010 of about $8.5 to $9.5 million in non-cash impairment charges and about $21 to $25 million in lease-related costs.

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