Jamba Juice backs guidance, sets expansion plans
Jamba Juice reiterates 2012 guidance, announces plans to expand and remodel stores
EMERYVILLE, Calif. (AP) -- Jamba Juice Co. on Wednesday reiterated its 2012 fiscal year guidance and announced plans to update stores, add new products and expand its business in 2013.
The juice company, headquartered in Emeryville, Calif., has significantly invested in a turnaround effort over the past few years.
Jamba has cut costs, added new products and updated its store formats in order to draw more customers. The company said that based on its success, it will expand these efforts in 2013.
The company said it will remodel up to 100 company stores in its 2013 fiscal year. It reconfirmed plans add more of its alternate store formats, such as drive-thru and smaller, limited-menu express sites that can be put in schools or offices. It also said it hopes to add more franchise sites in 2013 and add 60 to 80 international growth sites.
Jamba has also added a number of new products and plans to add more this year, including a tea energy drink that came from a recent acquisition. The company also said it will make an added push to control costs and improve efficiency in its stores.
"We believe 2012 provides an excellent foundation for accelerated growth and continued progress in transforming Jamba," James D. White, chairman, president and CEO of Jamba, said.
The company said that it stands by its guidance of revenue gains of 4 to 6 percent at company-owned stores open at least 13 months. This is considered a key indicator of a retailer's financial performance as it strips away the impact of recently opened or closed stores. Jamba said this measure will increase 4 to 6 percent again in 2013.
Shares of the company, which made a bumpy comeback during the past few years, slipped 6 cents to $2.44 in afternoon trading on relatively low-volume trading.
