Jamba Inc. 3Q profit drops 34.3%

Jamba Inc. 3Q profit drops 34.3%

Company attributes decline to weak consumer spending, bad weather

Jamba Inc. reported Monday a 34.3-percent decrease in profit in the third quarter ended Oct. 1, as the company had warned in October [3]. The Emeryville, Calif.-based parent of the Jamba Juice chain blamed weak consumer spending and bad weather in key markets for the decline.

The company said it would still open its smoothie station units, 33 of which were open at the end of the quarter. Jamba Juice had 804 U.S. units and 45 international locations as of Oct. 1.
 

NET INCOME

Result: $2.7 million, or 15 cents per share
% Decrease: 34.3% (from $4.1 million, or 21 cents per share)

REVENUE

Result: $61.4 million
% Decrease: 6.3% (from $65.5 million)

SAME-STORE SALES

% Decrease systemwide: 3.4%


% Decrease at corporate units: 5.5%


% Decrease at franchised units: 1.3%


Source: Company report



RELATED:
Jamba downgrades outlook, cites 3Q sales slump [3]
Jamba Juice 2Q profit jumps 51% [4]
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Contact Ron Ruggless at [email protected] [5].
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