New Client Growth and Same Store Sales Drive Market Share Gains and Revenue Growth
JERSEY CITY, NJ--(Marketwired - May 2, 2017) - Jackson Hewitt Tax Service® today announced the company's results for this tax season, posting market share gains, 4 percent total revenue growth, 6.6 percent increase in same store sales and 1.7 percent increase in same store returns, significantly outperforming the IRS decline of 0.7 percent.
"We saw taxpayers recognize the value of working with a tax professional, and we are proud of how our people and franchise partners served our clients," said Alan D. Ferber, CEO, Jackson Hewitt Tax Service. "Our initiatives to combat late refunds for hardworking Americans, aggressive marketing to both in-store and online filers, and attractive promotions were a winning combination."
Jackson Hewitt attributes the season's success to a number of strategies, including the company's marketing which highlighted the benefit of assisted tax preparation over do-it-yourself options, innovations in Express Refund Advance and the "Better Than Free" promotion, which effectively lifted Jackson Hewitt above the numerous free offerings in the marketplace. Overall, the company experienced strong results all season driven by double-digit new client growth and an increase in client retention.
Strong franchise sales also supported the company's business growth. Jackson Hewitt added 36 new franchise groups, which purchased more than 125 new and existing franchise territories across the country.
"We are energized by this season's success as we begin looking ahead to the next tax season," said Ferber. "We are committed to continuing to enhance our client experience and to innovate so that we can grow our leadership position with hardworking Americans."
To learn more about Jackson Hewitt Tax Service, visit www.JacksonHewitt.com.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. is an innovator in the tax industry, with a mission of offering its hard-working clients access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt is devoted to helping clients get ahead with Maximum Refund and 100% Accuracy Guarantees. With approximately 6,000 franchised and company-owned locations, including 3,000 in Walmart stores and online and mobile tax solutions Jackson Hewitt makes it convenient for clients to file their taxes. For more information about products, services and offers, or to locate a Jackson Hewitt office, visit www.JacksonHewitt.com or call 1 (800) 234-1040.