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Jamba Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: JMBA

With that said, I'd like to turn it over to James.

James D. White

Thank you, Karen, welcome to our second quarter call. On our last earnings call, I said that increases in our same-store sales were continuing in the start of our second quarter. For the second quarter though, same-store sales gains position Jamba as a leader in our peer group, with year-to-date performance that led us to increase our guidance for 2012. So we have some good results to review today. I'll highlight some of the quarterly accomplishments and then expand on a few of them later.

Our same-store sales now have been positive for 7 consecutive quarters for company-owned stores and 2 full years for our franchise stores. The increases in Q2 were 5.1% for company stores, 6.4% for franchise units. Systemwide, the increase was 5.7%. Both improved traffic and higher average check drove the increases in all day parts. The store profitability improved by 270 basis points to 24.3%. Our balance sheet remains strong with 0 debt and almost $29 million in cash. All strategic initiatives in our BLEND Plan 2.0 are in place and helping accelerate our growth.

Product and menu innovation move forward significantly around our expanded Make It Light, line-up of lower calorie smoothies, the return of our better-for-you Fruit Refresher beverages made with whole fruit and coconut water, featuring a summertime watermelon flavor and our expanded offering of fresh juice blends. We have 130 locations served by JambaGo units at the end of the second quarter. We're now accelerating this initiative and plan 400 to 500 by year end. Our milestone partnership with the National Dairy Council resulted in a fruit and dairy beverage for K-12 schools that combines the benefits of fat-free milk with real fruit and a naturally sweetened great-tasting smoothie.

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