Jamba, Inc. Provides Fiscal Year 2016 Update and 2017 Outlook

FRISCO, Texas--(BUSINESS WIRE)--Jamba, Inc. (NASDAQ:JMBA) today provided an update for fiscal year 2016 and the Company’s outlook for 2017. As a result of a delay in completing the Company’s financial statements, Jamba will file a Form 12b-25 Notification of Late Filing with the U.S. Securities and Exchange Commission with regard to its 2016 Annual Report on Form 10-K. 

Highlights 

• For the fourth quarter of 2016, Company-owned comparable store sales (1) decreased 2.5%, Franchise comparable store sales (1)decreased 2.2%, and System-wide comparable store sales (1)decreased 2.2%. 
• System-wide comparable store (1) sales and transactions exceeded the Knapp-Track Fast Casual benchmark for the fourth quarter of 2016 by approximately 0.8% and 0.2% respectively. 
• Full year system-wide comparable store sales (1) decreased 0.2%. 
• Opened 27 stores in the fourth quarter of 2016, comprised of 18 domestic and 9 international stores. 
• Opened 75 stores in fiscal 2016, of which 56 were domestic and 19 were located internationally. 

“2016 was a year of transition for Jamba. I am confident in the team we have assembled and our five key strategies for growth. The critical business decisions made over the past year allow the team to focus on our core retail business and the re-imagination of Jamba,” said Dave Pace, President and Chief Executive Officer of Jamba, Inc. “During the year we exited a number of non-core businesses and focused on energizing the brand while also driving sales and profitability. I expect these efforts to drive continued results and look forward to a successful 2017 and beyond.” 

Full Report.