February represented a time period of very harsh weather, resulting in a hiccup for most of the retail industry. I am sure this weather effected Jamba more so due to the temperature of their main source of revenue, smoothies. The company is beginning to bounce back with a little restructuring and some promotional tools going into the second quarter of 2010.
Second on our market movers list for the day is Inventure Group NASDAQ: SNAK trading at 3.37 up .20 or 6% at a volume of 95k. The company had a good 4th quarter and 2009 conference call which I covered on February 25th. They have also been expanding, particularly into Burger King with a snack chip line including Hot Fries, Cheese Fries and Hot & Spicy Onion Rings. A little pull back in the economy and those who still had jobs were looking to cut corners. Bringing your own lunch to work is one of those things, and what goes along with your sandwich? A bag of chips of course. Inventure Group will be conducting their first quarter conference call on April 22nd to provide some further cover on the consumer goods space.
Finally, on the Downside today is Hot Topic (NASDAQ HOTT), The Goth-style retailer is trading at 8.84 down .74 or 7.72% for the day and is probably experiencing some sell off after having a great week, peaking close to $9.84