Jamba Announces Significant Progress in Global Store Development
Company Expects At Least 80 New Units Open for Fiscal 2011
EMERYVILLE, Calif., Oct 31, 2011 (BUSINESS WIRE) -- Jamba, Inc. (NASDAQ:JMBA) today provided an update against its initiative to accelerate franchise store development and its 2011 goal to open between 50-70 locations in traditional, non-traditional, and express formats. As of October 4, 2011, Jamba has opened a total of 752 locations on a global basis. Locations opened domestically include 586 traditional and 166 non-traditional venues. Non-traditional venues include 17 airport and transportation hubs, 51 grocery and big box outlets, and over 50 college campuses. On an international basis, Jamba opened their first store in Toronto, Canada on Friday, October 28, and has opened nine franchise locations in South Korea.
Jamba also announced today it is testing a new growth concept called JambaGO, an express service with a limited menu of the brand's most popular smoothies. This new concept will enable Jamba to rapidly expand brand presence. Jamba currently has 15 JambaGO units in test.
"Jamba has made significant process in our initiative to accelerate the development of franchise and non-traditional stores. We expect to have at least 80 new outlets, including our JambaGO concepts, opened globally by the close of 2011," stated James D. White, chairman, president and CEO, Jamba, Inc. "The power of our brand, the quality of our products, the strength of our team, and the selection of outstanding partners who know how to deliver a superior service experience and drive execution are key factors in the success of our global expansion."
About Jamba, Inc.
Jamba, Inc. is a holding company which owns and franchises, on a global basis, Jamba Juice stores through its wholly-owned subsidiary, Jamba Juice Company. Jamba Juice Company is a leading restaurant retailer of better-for-you beverage and food offerings, which include great tasting fruit smoothies, fresh juices and teas, hot oatmeal made with organic steel cut oats, fruit and veggie smoothies, Whirl'ns(TM) Frozen Yogurt, breakfast wraps, salads, sandwiches, California Flatbreads(TM), and a variety of baked goods and snacks. As of October 4, 2011, there were 752 locations in the United States consisting of 310 Company-owned and operated stores and 442 franchise-operated stores. In addition, at October 4, 2011 there were 10 international stores.
This press release (including information incorporated or deemed incorporated by reference herein) contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those involving future events and future results that are based on current expectations, estimates, forecasts, and projections as well as the current beliefs and assumptions of the Company's management. Words such as "outlook", "believes", "expects", "appears", "may", "will", "should", "anticipates", or the negative thereof or comparable terminology, are intended to identify such forward looking statements. Any statement that is not a historical fact, including estimates, projections, future trends and the outcome of events that have not yet occurred, is a forward-looking statement. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore actual results may differ materially and adversely from those expressed in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to factors discussed under the section entitled "Risk Factors" in the Company's reports filed with the SEC. Many of such factors relate to events and circumstances that are beyond the Company's control. You should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the information contained in this press release.
SOURCE: Jamba, Inc.