Jamba To Exit Automated JambaGo Platform By End Of FY16

(RTTNews) - Jamba Inc. (JMBA) announced plans to exit the Company's automated JambaGo platform by the end of fiscal year 2016.

Jamba said its team has committed to strengthening its core retail business, improving franchise profitability, accelerating ongoing global development and updating the Jamba Juice brand position. After a detailed review, the Company determined that the JambaGo platform does not align with these objectives and is not a viable option through which to drive long-term profitability and shareholder value.

JambaGo is a smoothie system that can be formatted as both a self-serve unit for placement in non-traditional sites like convenience stores, hotels or colleges, or as a behind-the-counter format for use in K-12 schools and cafeterias.

As of June 28, 2016, the JambaGO business consists of approximately 2,000 licensed units located across the United States. The Company will provide additional context on the exit of this platform on the third quarter earnings call in November. v