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Juice-maker Jamba expects same-store sales to decline; shares dip
October 7, 2013 / 10:44 PM / 4 years ago

Juice-maker Jamba expects same-store sales to decline; shares dip

(Reuters) - Smoothie store operator Jamba Inc (JMBA.O) warned of a 3.4 percent fall in comparable-store sales in the current quarter, mainly due to a slowdown in consumer spending, sending its shares down 9 percent in after-market trading.

Jamba also estimated full-year 2013 same-store sales to be flat to 1 percent up, lower than the 5.1 percent growth in 2012.

“We expect the operating environment to continue to be challenging for the foreseeable future,” Chief Executive James White said on a conference call with analysts.

Jamba, which sells blended fruit drinks through more than 800 smoothie stands, also blamed its campaigns, saying they did not have the same impact during the third quarter as the year earlier.

Shares of the Emeryville, California-based company were down 8 percent at $12.40 in after-market trading. They closed at $13.47 on the Nasdaq on Monday.

Reporting by Aditi Shrivastava in Bangalore

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