Jamba Updates Its 2016 Sales Outlook; Issues 2017 Guidance - Quick Facts

(RTTNews) - Jamba, Inc. (JMBA) announced the company now expects its 2016 system-wide comparable sales to decline approximately 1%, compared to its prior guidance for growth of 1 - 3%. Total revenue is now expected to be approximately $78 million, down from prior estimate of $80 - $82 million.

For 2017, the company expects its system-wide comparable sales to increase in the range of 2 - 4%. Total revenue is expected to be in a range of $78 - $80 million.

For the third-quarter, total revenue decreased 37.9% to $22.1 million from $35.5 million for the prior year, primarily due to the reduction in the number of company stores as part of the refranchising strategy. System-wide comparable store sales decreased 1.1%.