msnbc.com:
Jamba is giving its blenders a good workout.
The 773-unit smoothie chain posted impressive quarterly results last night.
Sure, revenue fell 20% to $53 million, but investors were expecting a sharp top-line drop. The Jamba Juice parent switched to a new fiscal format, shaving three weeks off its fiscal first quarter as it goes from 16 weeks last year to 13 weeks this time around. Revenue would have inched 5% higher on a pro forma basis.
Another thing holding Jamba’s top line back is that the company refranchised 42 of its stores during last year’s first quarter. Transferring company-owned stores to franchisees replaces meaty revenue with high-margin franchisee royalties. Read more.