A 6.3% Y/Y drop in G&A spend to $9.6M helped Jamba's (NASDAQ:JMBA) op, margin rise 60 bps Y/Y in Q2 to 10.3%, and EPS to beat estimates.
Company-owned same-store sales rose 2.5% Y/Y, and franchise-operated same-store sales rose 2%. The introduction of juice and whole food blending to 376 stores (bringing the total to 508) provided a lift.
For the whole of 2014, Jamba expects 2%-4% company-owned same-store growth, an 18%-19% store-level margin, a 2%-3% op. margin, and 60-80 new store locations.
Jamba ended Q2 with $32.4M in cash/equivalents.
Q2 results, PR