Plus   Neg

Jamba Q4 Comps. Down 2.5%, Updates FY17 Guidance - Quick Facts

Jamba, Inc. (JMBA) announced, for the fourth quarter of 2016, company-owned comparable store sales decreased 2.5%, Franchise comparable store sales decreased 2.2%, and System-wide comparable store sales decreased 2.2%. System-wide comparable store sales and transactions exceeded the Knapp-Track Fast Casual benchmark for the fourth quarter of 2016 by approximately 0.8% and 0.2% respectively. The company said it expects to record unusual cash and non-cash charges of approximately $13 million to $14 million in the fourth quarter of 2016, resulting in part, from the company's efforts to focus on the core retail business and remove all non-core activities.

Full year 2016 system-wide comparable store sales decreased 0.2%. The company now expects total revenue to meet or exceed $78 million compared to prior guidance of approximately $78 million. Non-GAAP Adjusted EBITDA is now expected to meet or exceed $10.5 million compared to prior guidance of approximately $10.5 million.

For 2017, the company now expects total revenue of $75 to $77 million compared to prior guidance of $78 to $80 million. Annual system-wide comparable sales are expected to be flat, to slightly positive compared to prior guidance of an increase of 2 to 4%. Non-GAAP adjusted EBITDA is expected to be $13 to $15 million compared to prior outlook of $14 to $16 million. The company said its updated guidance for fiscal 2017 incorporates changes to annual Comp Sales due to the historic rain and flooding in primary geographies, a reduction in new store openings, the strategic exit of the JambaGO business, closure of the Innovation Store in Pasadena, California, and refranchise of the Emeryville, California store.

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. SEC with regard to its 2016 Annual Report on Form 10-K. The company currently does not expect to file its Form 10-K on or before April 4, 2017, the prescribed due date under the fifteen calendar day extension period.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Galaxy Entertainment Group (WYNN) Friday announced that it has agreed to purchase 5.3 million primary shares of Wynn Resorts Ltd. at a price of $175 a share, resulting in $927.50 million of gross proceeds to Wynn Resorts. The two sale, combined with a previous sale effectively eliminate ownership of founder and former CEO Steve Wynn in Wynn Resorts. Starbucks wants to be more efficient but it is risking the fragile loyalty of its most devoted customers. The ubiquitous chain plans a major push to get coffee lovers to use its mobile app to place their orders, but regulars prefer to buy their lattes by waiting in the queue. According to reports,... Taco Bell, the Mexican fast-food chain owned by Yum Brands Inc. (YUM), Thursday said it will start selling tortilla chips in grocery and convenience stores starting May. The chips will be available in Fire and Mild sauce packet flavors and also in a Classic flavor. "This launch of our first line...
comments powered by Disqus
Follow RTT