SOURCE: Jackson Hewitt Tax Service

Jackson Hewitt Tax Service

March 08, 2017 16:21 ET

CORRECTION - Jackson Hewitt® Announces Strong "First Season" Results

JERSEY CITY, NJ--(Marketwired - Mar 8, 2017) - In the news release, "Jackson Hewitt(R) Announces Strong "First Season" Results," issued earlier today by Jackson Hewitt Tax Service, we are advised by the company that the last sentence of the first paragraph should read "12.6 percent" rather than "13.2 percent" as originally issued.  Complete corrected text follows.

Jackson Hewitt(R) Announces Strong "First Season" Results

10% Market Share Gains to IRS and Positive Revenue Growth Lead the Way

JERSEY CITY, NJ -- March 8, 2017 -- Jackson Hewitt Tax Service® today announced its "first season" results, posting market share gains and positive total revenue growth including a four percent increase in same store sales through Feb. 24, the latest public filing period for the IRS. Jackson Hewitt outperformed the IRS in the assisted category with a decline of 3.2 percent compared to the IRS decline of 12.6 percent.

"Our first season success is a direct result of our marketing, which highlighted the benefit of Assisted tax preparation over do-it-yourself options, our innovation in Express Refund Advance to help clients with the impact of delayed refunds, and our Better Than Free promotion that effectively combated the numerous free offerings in the marketplace," said David Prokupek, Co-CEO of Jackson Hewitt Tax Service. "Our revenue growth is based on growth in new clients, gains in client retention, and our ability, thru our partnership with American Express, to get our clients early and low cost access to their refunds."

The keys to Jackson Hewitt's early season success were:

  • Innovations with Express Refund Advance, which came to the rescue of clients facing well-publicized tax refund delays this season. Twice as many clients this season received the no fee, 0% APR loan as in 2016.
  • The "Better Than Free" promotion which offered taxpayers the benefits of a tax professional and a $48 price on simple Federal returns offset by a $50 gift card.
  • A commitment to get our clients the earliest and lowest cost access to their refund along with the added assurance of working with a Jackson Hewitt tax professional.

"I am proud of our associates and Franchisees who have achieved so much this season by reinforcing the value of our tax professionals and helping our hardworking clients bridge the gap of refund delays," said Prokupek. "Our promotions and product innovation were designed to benefit our clients and are all contributing to a successful tax season."

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.

Terms and conditions apply to all offers. Ask a tax pro or visit www.JacksonHewitt.com to learn more.

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