Natural food and juice store Jamba Inc. released its third quarter ended Oct. 6 results, revealing an upswing in net income that had been negative in third quarter 2008.
Company-owned same-store sales for the quarter declined 5.3 percent. However, that reflected an 800 basis point sequential improvement over second quarter comp sales.
Revenues for Q3 2009 were down 7 percent at $79,991 million vs. $86,079 million this time last year. Year-to-date revenues were down 12 percent at $251 million vs. $284.7 million last year.
Net income was up 12 percent at $2.6 million for the quarter, compared with a loss of $12.4 million in the same period last year. Year-to-date net income improved 88 percent with losses of $12.6 million for 2009 compared with negative $108 million this time last year.
James D. White, president and chief executive, Jamba Inc., said he was pleased with the numbers for the quarter, especially considering the company's location in California, which has had record unemployment levels. The company also opened 10 new campus locations and completed the sales of eight company stores to existing franchise operators in conjunction of the company goal to refranchise up to 150 company-owned stores by end of year 2010.
White also revealed some new food initiatives.
"I am especially pleased with our food initiative," White said. "Food is now present with full or limited offerings in 377 stores. As an early indicator of progress, system-wide our stores with food are showing a 200 - 400 basis point improvement in comparable store sales over our non-food stores. We believe our future performance will be boosted by a recently launched marketing campaign, the ‘Feel Good Campaign,' which is Jamba's most comprehensive effort ever. The ‘Feel Good Campaign' is a multi-faceted, integrated campaign that is already driving additional traffic."
