Jamba, Inc. (NASDAQ:JMBA) today reported unaudited financial results for the fourth quarter and fiscal year ended December 31, 2013.
Jamba demonstrated renewed momentum in the quarter and delivered on a majority of its strategic and financial targets, including a third consecutive year of comparable store sales growth for Company-owned stores and a second year of net income since becoming a public company. Key growth drivers all performed solidly with JambaGO more than doubling in size with the addition of over 1,000 units, international showing strong growth in all countries and adding two new markets in the Middle East and Mexico, and the Premium Juice and Whole Food Blending platform exceeding test market projections.
The Company also had significant growth and expansion in its domestic franchise markets through refranchising, development agreements and opening franchise stores in several new states.
“The fourth quarter demonstrated the power of our brand and progress we’ve made with many of our strategic priorities and initiatives. We’re also pleased with our results for 2013, which was the third consecutive year that we’ve reported an increase in Company-owned comparable store sales and our second consecutive year of profitability,” said James D. White, chairman, president and CEO. “2014 is shaping up to be a very busy year with our launch of our Premium Juice and Whole Food Blending platforms across the country to more than 500 stores, the continued expansion of our JambaGO platform and domestic and international locations as well as pursuing an enterprise-wide cost savings initiative that we expect will result in a 100 - 200 basis point improvement in operating margins.”“This progress came in the face of ongoing constraints on consumer spending, some adverse weather and stiff competition. We are very confident about Jamba’s future, especially since our brand awareness continues to increase and is now at the highest levels in recent company history,” Mr. White said.