Courtesy of Benzinga.
Jamba, Inc. (NASDAQ: JMBA) reiterates its fiscal year 2011 guidance.
For fiscal year 2011 the Company expects to deliver positive Company-owned comparable store sales(1) of 2-4%; achieve adjusted operating profit margin(2) of 18-20%; develop 50-70 U.S. locations in traditional, non-traditional, and express franchise formats; and maintain general and administrative expenses, in dollars (excluding litigation charges and other one-time expenses), consistent with 2010 levels.
“We are pleased with our third quarter sales performance and expect that Q311 will represent our fourth consecutive quarter of positive Company-owned comparable store sales growth. We continue to make solid gains against our strategic initiatives which gives us confidence to reiterate our guidance for FY11,” stated James D. White, chairman, president and CEO, Jamba, Inc. “Our actions and achievements are facilitating the transformation of Jamba into a leading health-and-wellness brand.”
