Jamba Inc., parent of smoothie chain Jamba Juice, plans to double its unit openings in 2015, with a target of 100 to 125 new locations, the company said Thursday.
Systemwide same-store sales rose 4.9 percent for the fourth quarter ended Dec. 30, and increased 2.7 percent for the year, the company said, citing preliminary unaudited results.
The overall results reflect the success of the expanded fresh juice and energy bowl platforms, James White, chairman, president and CEO of Jamba Inc., said in a statement. Sales of fresh juice increased from 7 percent of sales in May to 13.4 percent by December.
“We made significant progress in transforming Jamba with value-creating initiatives to introduce innovative products and marketing, reduce costs and enhance productivity, accelerate our move to an asset-light model with expanded refranchising, increase our store growth with renewed franchise recruiting, return capital to shareholders through our first-ever repurchase program, and add new perspectives and strength to our board with our proposed new directors,” White said.
The company reiterated its plan to refranchise 114 company-owned locations by mid 2015, which would make Jamba Juice 80-percent franchised.
The company’s net loss widened for the quarter, reflecting costs associated with expanding its juice platform and the transition of administrative functions to third-party provider Capgemini, as well as the purchase of 23 franchised units alongside refranchising efforts.
Excluding those costs, the company said adjusted net income was $3.6 million, or 20 cents per share.
For fiscal 2015, the company projected systemwide same-store sales growth ranging between 3 percent and 5 percent.
Jamba ended the quarter with 868 global locations, including 263 company owned, 543 domestic franchised and 62 international franchised locations.
4Q NET LOSS
Result: -$8 million, or -47 cents per share
(from -$5.7 million, or -33 cents per share)
4Q REVENUE
Result: $43.9 million
% Decrease: 0.3% (from $44 million)
4Q SAME-STORE SALES
% Increase systemwide: 4.9%
% Increase corporate: 4.2%
% Increase franchised: 5.4%
Source: Company report
FULL YEAR NET LOSS
Result: -$3.6 million, or -21 cents per share
(from $1.5 million, or 9 cents per share)
FULL YEAR REVENUE
Result: $218 million
% Decrease: 5% (from $229 million)
FULL YEAR SAME-STORE SALES
% Increase systemwide: 2.7%
% Increase corporate: 2.8%
% Increase franchised: 2.7%
Source: Company report
RELATED:
• Jamba plans more refranchising, share buybacks
• Jamba narrows loss in 1Q
• More restaurant finance news
Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout
