Jamba Inc. reported a net loss of $5.3 million, or $0.13 per diluted share, in the first quarter of fiscal 2010, which ended 4/20/2010. The company lost $10.2 million, or $0.19 per diluted share, in the same time period in 2009.
Jamba Inc. also reported a decline in revenue on a year over year basis, from $88.9 million in the first quarter of fiscal 2009, to $80.4 million in the quarter that just ended. Comparable store sales fell in the first quarter of fiscal 2010 by 3.3% compared to the prior period.
Jamba Inc. outlined the goals that the company hopes to achieve during 2010. These goals include positive comparable store sales growth, company wide EBITDA margins of 5-7%, a reduction in selling, general and administrative expenses of 10-12% and the opening of 50 franchised stores.
James D. White, the CEO of Jamba, Inc., said, “We have several key strategies for 2010 and our first quarter results put us on track to meet them. I am also pleased with the sequential quarter over quarter improvement in our comparable sales and store traffic improvement, addition of 50 franchised stores to its base.”
Jamba Inc. opened 7 franchise stores and one company store during the first quarter of fiscal 2010, bringing the store base to 458 company owned stores and 287 franchise stores.
For more information on the company, go to www.jambajuice.com
Let us hear your thoughts below: