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US: Expansion boosts Jamba Juice H1 profits

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  • 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.

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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.


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