logo
Share SHARE
FONT-SIZE 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
Social media app Snapchat has introduced a new location service, Snap Map, that will allow users of the app to see the location of all their friends on a map. The new feature will essentially allow a user to see where his friends are hanging out and what they are up to and also share his own location with friends in real time. The U.S. has suspended all imports of fresh beef from Brazil due to recurring concerns about the safety of the products. The suspension of shipments from Brazil, the fifth largest exporter of beef to the U.S., will remain in place until the Brazilian Ministry of Agriculture takes corrective action, the U.S. Department of Agriculture or USDA said in a statement. The annual Federal stress test was cleared by 34 top banks. The result shows strong capital levels and the ability of large banks to remain capitalized even in stressed situations. The Federal Reserve noted that these banks will be able to lend to households and businesses even at severe recession and throughout the economic cycle.
comments powered by Disqus
Follow RTT