News

US: Expansion boosts Jamba Juice H1 profits

Most popular

Latest sexism row is a whisky watershed

Heineken must cut costs to aid recovery - analysis

How COVID has accelerated the sobriety trend

Interview - Treasury CEO Mike Clarke - Part II

Treasury Wine Estates Performance Trends 2016-2020

MORE
  • First-half net losses improve by 30% to US$2.6m
  • Operating losses narrow by 29.4% to $2.4m
  • Sales slide by 19% to $125m
  • Second-quarter net profits soar by 144% to $3.9m

Jamba Juice has narrowed its net losses in the first half of 2011, driven by international store expansion and continued extension of its namesake smoothie offering.

//i4.progressivedigitalmedia.com/1/prn3-jamba-juice-fruit-veggie-smoothie-1yhigh_1.jpg

For the six months to 12 July, net losses at the US smoothie retailer improved by 30% to US$2.6m, while operating losses narrowed by 29.4% to $2.4m. Sales in the period however, slid by 19% to $125m due to a reduction in the number of company-owned stores as part of Jamba's re-franchising initiative.

In the three-month period to 12 July, net profits soared by 144% to $3.9m, while operating profits climbed by 129.4% to $3.9m. Sales in the quarter however, slid by 21% to $58.8m, again reflecting the store losses.

Nonetheless, Jamba's chairman, president and CEO, James White, said the company's performance in the second quarter reflects “solid progress” in its "transformation of Jamba".

The soft drinks firm announced expansion into three international markets this year - Korea, the Philippines and Canada.

Looking to the remainder of 2011, Jamba has forecast a rise in company-owned comparable store sales of between 2% and 4%, and adjusted operating profit margin of 18% to 20%. Plans are also in place to develop 50 to 70 US locations in traditional, non-traditional, and express franchise formats, it said.

Click here to view the earnings release.


Related Content

Premium Scotch boosts H1 2018 export growth as blends catch up

Premium Scotch boosts H1 2018 export growth as blends catch up...

"Who knew we'd launch in the middle of a pandemic?" - just-drinks speaks to Jade Padua, co-founder o...

How did Distell Group perform in H1 fiscal-2020? - results data

How did Distell Group perform in H1 fiscal-2020? - results data...

AG Barr hatches streamlining plans as H1 sales, profits slump

AG Barr hatches streamlining plans as H1 sales, profits slump ...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?