Jamba Announces Significant Progress in Domestic Store Growth Plans
Broadens Presence in New Markets Across Central and Eastern U.S. with Signing of Eight Franchise Development Agreements
EMERYVILLE, Calif. - (BUSINESS WIRE) - Jul. 23, 2012 - Jamba, Inc. (NASDAQ:JMBA) today announced expansion plans into new markets with new franchisees including Long Island, New York; Wayne, New Jersey; Pittsburgh, Pennsylvania; Milwaukee, Wisconsin; and Toledo, Ohio. Store expansion with existing franchisees is also planned in California, Ohio, Kentucky, Indiana and Connecticut. These eight franchise agreements represent a total of 32 new Jamba Juice® stores to be developed over the next five-to-seven years. Jamba expects to develop 40-50 U.S. locations and 10-15 new stores internationally during 2012.
“Jamba continues to make significant progress against our strategic initiative to accelerate the growth of our company through franchise store development,” stated James D. White, chairman, president and CEO, Jamba, Inc. “The strength of our brand, the quality of our products, the capabilities of our team, and the selection of outstanding partners are key factors helping to accelerate our growth.”
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 specialty beverages and food offerings which include great tasting fruit smoothies, fresh-squeezed juices and juice blends, coffee and hot teas, hot oatmeal made with organic steel cut oats, fruit and veggie smoothies, Fit’n FruitfulTM smoothies with Weight Burner BoostTM, Whirl’ns™ Frozen Yogurt, breakfast wraps, sandwiches, California Flatbreads™, and a variety of baked goods and snacks. As of April 3, 2012, there were 773 store locations globally, consisting of 305 Company-owned and operated stores (“Company Stores”) and 444 franchise-operated stores (“Franchise Stores”) in the United States and 24 international stores (“International Stores). As of April 3, 2012, Jamba Juice also had nine license agreements in place covering a variety of consumer packaged goods. Fans of Jamba Juice can find out more about Jamba Juice's locations as well as specific offerings and promotions by visiting the Jamba Juice website at www.JambaJuice.com or by contacting Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).
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.
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