Jamba, Inc. Announces Store Closings, Job Cuts


Jamba Inc., parent company of the Jamba Juice chain, recently announced plans to close 10 stores and cut 53 support jobs. Not surprisingly, shares of Jamba Inc. fell initially, trading as low as $2.40 late last week. However, analysts have noted the long term positive impact on Jamba, as the closures could save the company as much as $4 million annually. Stock prices have rallied a bit, trading at $2.46 on Tuesday morning. Still, Jefferies & Co. analyst Jeff Farmer noted, “Strategic decisions announced Thursday are the right thing to do, but a clear signal that Jamba management does not expect business trends to improve meaningfully in the near future.”

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