Jamba, Inc. (NASDAQ:JMBA) today reported unaudited financial results for
the second fiscal quarter ended July 2, 2013. The Company recorded a
quarterly comparable store sales(1) increase of 2.2% for
Company-owned stores, driven by increases in store traffic and average
check.
Jamba also reported solid increases in total revenue, net income,
operating margin and earnings per share from its expanding consumer
product platforms during the second quarter. The Company made
substantial progress in its key growth initiatives, including
fresh-squeezed juice expansion, store refreshes and remodels and express
retail format.
Highlights for the 13 weeks ended July 2, 2013, compared to the 13
weeks ended July 3, 2012:
-
Company-owned comparable store sales(1) increased 2.2% for
the quarter ascompared to the prior year period in which
comparable store sales increased 5.1%.
-
System-wide comparable store sales(1) increased 1.7% for
the quarter against a 5.7% increase for the prior year period and
franchise-operated comparable store sales(1) increased 1.2%
for the quarter compared to the prior year quarter increase of 6.4%.
-
Net income after dividends increased 51% to $6.2 million, or $0.36(2)
diluted earnings per share for the quarter, compared to net income of
$4.1 million, or $0.27(2) diluted earnings per share for
the prior year period.
-
Total revenue increased 1.9% to $67.3 million compared to total
revenue of $66.0 million for the prior year period.
-
Income from operations increased 32.1% to $6.6 million reflecting
Company-owned store comparable sales growth, increased franchise
revenue and expanding CPG sales. Operating margin improved by 230
basis points to 9.9% for the second quarter of 2013.
-
General and administrative expenses decreased 5.4% to $10.2 million
compared with $10.8 million for the prior year period.
-
During the quarter, franchisees opened 11 new stores globally; nine
new franchise-operated stores, which include six smoothie stations, in
the U.S. and two new international stores. Two Company-owned stores
were opened.
-
Holders of Series B Preferred Stock completed conversion of all
preferred shares to shares of the Company’s common stock in June 2013,
resulting in the end of dividend payments to the preferred
stockholders.
“Despite the challenging consumer and competitive environment, Jamba had
strong quarterly achievements and also set the stage for future
performance gains and earnings growth. Our record of more than two years
of quarterly system comparable store sales growth continued with an
increase that outpaced many of our peers. Total revenue and net earnings
both advanced, with EPS for the quarter increasing 33%. By increasing
our marketing investment and highlighting value promotions, we continue
to grow our base of light and lapsed users,” said James D. White,
Chairman, President and CEO of Jamba.
“Our growth initiatives – fresh juice expansion, store re-imaging,
consumer products, global franchise development and express retail
concepts – made good progress during the quarter. Several longer term
efforts, including supply chain and labor optimization programs,
organization structure and marketing and pricing initiatives, were
launched during the quarter, and we expect that these efforts will yield
positive results in 2013 and beyond,” concluded Mr. White.
Second Quarter Fiscal 2013 Results
Revenue
For the 13 weeks ended July 2, 2013, total revenue increased 1.9% to
$67.3 million from $66.0 million in the prior year period. The increase
is due to the 2.2% increase in Company-owned comparable store sales(1)
and increased franchise revenue and CPG sales. The increase in
Company-owned comparable store sales(1) of 2.2% was driven
primarily by an increase in transaction count of 160 basis points and an
average check increase of 60 basis points. During the 13-week period
ended July 2, 2013, franchise-operated comparable store sales(1)
increased 1.2%. Franchise and other revenue increased 27.2% to $4.5
million from $3.5 million in the prior year period. Jamba’s CPG revenue
was $1.0 million in the 13 week-period ended July 2, 2013, compared to
$0.3 million in the prior year period, up 233%.
Income from Operations and Operating Margin
Jamba’s operating margin improved by 230 basis points to 9.9% for the
second quarter of 2013 compared to 7.6% for the quarter ended July 3,
2012. On a dollar basis, the $6.6 million income from operations for the
second quarter of 2013 was a $1.6 million improvement over the second
quarter of 2012 reflecting the increased franchise revenue and CPG
sales, and improved leveraging of fixed costs resulting from the
Company-operated store comparable sales growth.
Retail Growth
As of July 2, 2013, system-wide, Jamba has 787 stores in the United
States, of which 492 are franchise-operated stores and 295 are
Company-owned. Franchise-operated stores include Jamba Smoothie
Stations™, the new limited menu express format. During the quarter,
Jamba opened nine new domestic franchise-operated stores, consisting of
one traditional, two non-traditional and six smoothie stations; and two
international store locations, one in the Philippines and one in South
Korea. Two new Company-owned stores opened during the quarter. As of
July 2, 2013 there were 42 international store locations, all of which
are franchise-operated. During the quarter, the total number of JambaGO
served locations increased to 636.
As of July 2, 2013, 23 California locations offered the fresh-squeezed
premium juice platform, with a target of up to 50 locations by the end
of 2013. During the quarter, the Company sold seven stores in California
to new and existing franchise partners.
Liquidity
On July 2, 2013, the Company held $32.6 million in cash and cash
equivalents as compared to $31.5 million cash and cash equivalents at
January 1, 2013. On July 2, 2013, the Company had no restricted cash. At
the end of fiscal 2012, the restricted cash balance was $0.2 million.
Outlook for 2013
The Company continues to expect to achieve the following results for
fiscal 2013:
-
Deliver positive Company-owned comparable store sales(1) of
4%-6% and store-level margin of 20%;
-
Achieve income from operations of 2.5%-3.0% of revenue;
-
Deliver CPG revenue of $4 million - $5 million;
-
Develop 60-80 U.S. and international locations;
-
Add 1,000 JambaGO served locations.
Earnings Conference Call
A conference call to review the second quarter 2013 results will be held
today, August 5, 2013 at 5:00 p.m. ET. The conference call can be
accessed live over the phone by dialing (877) 941-1427 or for
international callers by dialing (480) 629-9664. A replay will be
available at 8:00 p.m. ET and can be accessed by dialing (877) 870-5176
or (858) 384-5517 for international callers; the pin number is 4624867.
The replay will be available until August 26, 2013. The call can be
accessed from the Company’s website at www.jambajuice.com
under the Corporate Investor Relations section or directly at http://ir.jambajuice.com.
About Jamba, Inc.
Jamba, Inc., (the “Company”) owns and franchises Jamba Juice stores
through its wholly-owned subsidiary, Jamba Juice Company. Jamba Juice
Company is a leading restaurant retailer of better-for-you, specialty
beverage and food offerings, which include great tasting, whole fruit
smoothies, fresh-squeezed juices and juice blends, hot coffee and teas,
hot oatmeal, breakfast wraps, sandwiches and mini-wraps, California
Flatbreads™, frozen yogurt, and a variety of baked goods and snacks. As
of July 2, 2013, there were 829 store locations globally. There were 295
Company-owned and operated stores and 492 franchise-operated stores in
the United States, and 42 international stores. Jamba Juice Company has
expanded the Jamba brand by direct selling of consumer packaged goods
(“CPG”) and licensing its trademark. CPG products for at-home enjoyment
are also available online, through select retailers across the nation
and in Jamba outlets in the United States.
Fans of Jamba Juice can find out more about Jamba Juice's locations as
well as specific offerings and promotions by visiting the Jamba Juice
website at www.JambaJuice.com or
by contacting Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).
Forward-Looking Statements
This press release (including information incorporated or deemed
incorporated by reference herein) contains “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are those involving future events and
future results that are based on current expectations, estimates,
forecasts, and projections as well as the current beliefs and
assumptions of the Company’s management. Words such as “outlook”,
“believes”, “expects”, “appears”, “may”, “will”, “should”,
“anticipates”, or the negative thereof or comparable terminology, are
intended to identify such forward looking statements. Any statement that
is not a historical fact, including the statements made under the
caption “Outlook for 2013” and any other estimates, projections, future
trends and the outcome of events that have not yet occurred, is a
forward-looking statement. Forward-looking statements are only
predictions and are subject to risks, uncertainties and assumptions that
are difficult to predict. Therefore actual results may differ materially
and adversely from those expressed in any forward-looking statements.
Factors that might cause or contribute to such differences include, but
are not limited to factors discussed under the section entitled “Risk
Factors” in the Company’s reports filed with the SEC. Many of such
factors relate to events and circumstances that are beyond the Company’s
control. You should not place undue reliance on forward-looking
statements. The Company does not assume any obligation to update the
information contained in this press release.
Non-GAAP Financial Measures
The Company provides certain supplemental non-GAAP financial measures to
its investors as a complement to the most comparable GAAP measures. The
Company believes that providing these non-GAAP measures to its
investors, in addition to corresponding GAAP income statement measures,
provides investors the benefit of viewing the Company's performance
using the same financial metrics that the management team uses in making
many key decisions and understanding how the Company's core business
operations may perform and may look in the future. The non-GAAP
financial measures are discussed further in Footnotes below.
Non-GAAP financial measures are not in accordance with, or an
alternative for, generally accepted accounting principles in the United
States of America. Non-GAAP measures should not be considered in
isolation from or as a substitute for financial information presented in
accordance with generally accepted accounting principles, and may be
different from non-GAAP measures used by other companies.
Footnotes:
(1)
|
|
Comparable store sales are calculated using sales of Jamba Juice
stores open more than one full fiscal year. Company-owned
comparable store sales percentages are based on sales from
company-owned stores included in our store base.
Franchise-operated comparable store sales percentages are based on
sales from franchised stores, as reported by franchisees, which
are included in our store base. System-wide sales percentages are
based on sales by both company-owned and franchise-operated
stores, as reported by our franchisees, which are included in our
store base. Company-owned stores that were sold in refranchising
transactions are included in the Company-owned store base for each
accounting period of the fiscal quarter to the extent the sale is
consummated at least three days prior to the end of such
accounting period, but only for the days such stores have been
company-owned. Thereafter, such stores are excluded from the store
base until such stores have been franchise-operated for at least
one full fiscal period, at which point such stores are included in
the franchise-operated store base and compared to sales in the
comparable period of the prior year. Comparable store sales
exclude closed locations. Company-owned comparable store sales
percentages as used herein, may not be equivalent to company-owned
comparable store sales as defined or used by other companies.
Franchise-operated comparable store sales percentages and
system-wide sales percentages as used herein are non-GAAP
financial measures and should not be considered in isolation or as
substitute for other measures of performance prepared in
accordance with generally accepted accounting principles in the
United States. Management reviews the increase or decrease in
company-owned comparable store sales, franchise-operated
comparable store sales and system-wide sales compared with the
same period in the prior year to assess business trends and make
certain business decisions. The Company believes the data is
useful in assessing the overall performance of the Jamba brand
and, ultimately, the performance of the Company, the company-owned
stores, and franchise-operated stores.
|
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(2)
|
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The Company completed a 5-for-1 reverse stock split on May 31,
2013 and all per share amounts are presented on a post-split basis.
|
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|
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JAMBA, INC.
|
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
July 2,
|
|
|
January 1,
|
(In thousands, except share and per share amounts)
|
|
|
|
2013
|
|
|
|
|
2013
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current assets:
|
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|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
32,573
|
|
|
|
$
|
31,486
|
|
Restricted cash
|
|
|
|
|
|
|
205
|
|
Receivables, net of allowances of $140 and $103
|
|
|
|
7,655
|
|
|
|
|
11,327
|
|
Inventories
|
|
|
|
3,630
|
|
|
|
|
3,143
|
|
Prepaid and refundable taxes
|
|
|
|
264
|
|
|
|
|
655
|
|
Prepaid rent
|
|
|
|
3,085
|
|
|
|
|
3,080
|
|
Prepaid expenses and other current assets
|
|
|
|
2,479
|
|
|
|
|
1,681
|
|
Total current assets
|
|
|
|
49,686
|
|
|
|
|
51,577
|
|
|
|
|
|
|
|
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Property, fixtures and equipment, net
|
|
|
|
40,152
|
|
|
|
|
38,442
|
|
Goodwill
|
|
|
|
1,233
|
|
|
|
|
1,336
|
|
Trademarks and other intangible assets, net
|
|
|
|
1,289
|
|
|
|
|
1,412
|
|
Other long-term assets
|
|
|
|
1,128
|
|
|
|
|
846
|
|
Total assets
|
|
|
$
|
93,488
|
|
|
|
$
|
93,613
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
Accounts payable
|
|
|
$
|
7,225
|
|
|
|
$
|
8,206
|
|
Accrued compensation and benefits
|
|
|
|
6,806
|
|
|
|
|
7,566
|
|
Workers' compensation and health insurance reserves
|
|
|
|
1,168
|
|
|
|
|
1,087
|
|
Accrued jambacard liability
|
|
|
|
28,219
|
|
|
|
|
33,634
|
|
Other current liabilities
|
|
|
|
9,905
|
|
|
|
|
9,728
|
|
Total current liabilities
|
|
|
|
53,323
|
|
|
|
|
60,221
|
|
Deferred rent and other long-term liabilities
|
|
|
|
11,960
|
|
|
|
|
11,880
|
|
Total liabilities
|
|
|
|
65,283
|
|
|
|
|
72,101
|
|
|
|
|
|
|
|
|
Commitments and contingencies
|
|
|
|
|
|
|
|
|
|
|
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|
|
Series B redeemable preferred stock, $.001 par value, 304,348
shares authorized; 0 and 72,889 shares issued and outstanding at
July 2, 2013 and January 1, 2013, respectively.
|
|
|
|
-
|
|
|
|
|
7,916
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
Common stock, $.001 par value, 30,000,000 shares authorized;
17,053,958 and 15,481,782 shares issued and outstanding at July 2,
2013 and January 1, 2013, respectively.
|
|
|
|
17
|
|
|
|
|
78
|
|
Additional paid-in-capital
|
|
|
|
389,567
|
|
|
|
|
380,007
|
|
Accumulated deficit
|
|
|
|
(361,379
|
)
|
|
|
|
(366,489
|
)
|
Total stockholders' equity
|
|
|
|
28,205
|
|
|
|
|
13,596
|
|
Total liabilities and stockholders' equity
|
|
|
$
|
93,488
|
|
|
|
$
|
93,613
|
|
|
|
|
|
|
|
|
Share and per share data have been adjusted for all periods presented to
reflect a five-for-one reverse stock split effective May 31, 2013.
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|
|
|
|
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|
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JAMBA, INC.
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
(Unaudited)
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|
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|
|
|
|
|
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|
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13 Week
|
|
|
13 Week
|
|
|
26 Week
|
|
|
26 Week
|
|
|
|
|
Period Ended
|
|
|
Period Ended
|
|
|
Period Ended
|
|
|
Period Ended
|
(In thousands except share and per share amounts)
|
|
|
July 2, 2013
|
|
|
July 3, 2012
|
|
|
July 2, 2013
|
|
|
July 3, 2012
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company stores
|
|
|
$
|
62,798
|
|
|
|
$
|
62,530
|
|
|
|
$
|
113,938
|
|
|
|
$
|
112,555
|
|
Franchise and other revenue
|
|
|
|
4,469
|
|
|
|
|
3,514
|
|
|
|
|
8,385
|
|
|
|
|
6,536
|
|
Total revenue
|
|
|
|
67,267
|
|
|
|
|
66,044
|
|
|
|
|
122,323
|
|
|
|
|
119,091
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Costs and operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales
|
|
|
|
14,858
|
|
|
|
|
13,975
|
|
|
|
|
27,262
|
|
|
|
|
25,586
|
|
Labor
|
|
|
|
|
16,849
|
|
|
|
|
17,148
|
|
|
|
|
32,604
|
|
|
|
|
32,556
|
|
Occupancy
|
|
|
|
7,319
|
|
|
|
|
7,326
|
|
|
|
|
14,695
|
|
|
|
|
14,743
|
|
Store operating
|
|
|
|
8,523
|
|
|
|
|
8,955
|
|
|
|
|
16,680
|
|
|
|
|
16,830
|
|
Depreciation and amortization
|
|
|
|
2,768
|
|
|
|
|
2,813
|
|
|
|
|
5,540
|
|
|
|
|
5,736
|
|
General and administrative
|
|
|
|
10,237
|
|
|
|
|
10,823
|
|
|
|
|
19,390
|
|
|
|
|
19,462
|
|
Impairment of long-lived assets
|
|
|
|
167
|
|
|
|
|
175
|
|
|
|
|
274
|
|
|
|
|
562
|
|
Other operating, net
|
|
|
|
(97
|
)
|
|
|
|
(200
|
)
|
|
|
|
536
|
|
|
|
|
232
|
|
Total costs and operating expenses
|
|
|
|
60,624
|
|
|
|
|
61,015
|
|
|
|
|
116,981
|
|
|
|
|
115,707
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
|
6,643
|
|
|
|
|
5,029
|
|
|
|
|
5,342
|
|
|
|
|
3,384
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense), net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income
|
|
|
|
-
|
|
|
|
|
20
|
|
|
|
|
-
|
|
|
|
|
39
|
|
Interest expense
|
|
|
|
(59
|
)
|
|
|
|
22
|
|
|
|
|
(137
|
)
|
|
|
|
(94
|
)
|
Total other expense, net
|
|
|
|
(59
|
)
|
|
|
|
42
|
|
|
|
|
(137
|
)
|
|
|
|
(55
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income before income taxes
|
|
|
|
6,584
|
|
|
|
|
5,071
|
|
|
|
|
5,205
|
|
|
|
|
3,329
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
|
|
(234
|
)
|
|
|
|
(453
|
)
|
|
|
|
(95
|
)
|
|
|
|
(221
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
|
|
|
6,350
|
|
|
|
|
4,618
|
|
|
|
|
5,110
|
|
|
|
|
3,108
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock dividends and deemed dividends
|
|
|
|
(104
|
)
|
|
|
|
(472
|
)
|
|
|
|
(588
|
)
|
|
|
|
(953
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income available to common stockholders
|
|
|
$
|
6,246
|
|
|
|
$
|
4,146
|
|
|
|
$
|
4,522
|
|
|
|
$
|
2,155
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average shares used in computation of loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
16,793,260
|
|
|
|
|
13,477,140
|
|
|
|
|
16,478,352
|
|
|
|
|
13,467,983
|
|
Diluted
|
|
|
|
17,473,249
|
|
|
|
|
17,141,883
|
|
|
|
|
16,895,654
|
|
|
|
|
13,467,983
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
|
0.37
|
|
|
|
$
|
0.31
|
|
|
|
$
|
0.27
|
|
|
|
$
|
0.16
|
|
Diluted
|
|
|
$
|
0.36
|
|
|
|
$
|
0.27
|
|
|
|
$
|
0.27
|
|
|
|
$
|
0.16
|
|
|
Share and per share data have been adjusted for all periods presented to
reflect a five-for-one reverse stock split effective May 31, 2013.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JAMBA, INC.
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STORE COUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NUMBER OF STORES
|
|
|
|
|
|
COMPANY
|
|
|
FRANCHISE
|
|
|
TOTAL
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
International
|
|
|
|
|
|
Quarter ended July 2, 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At January 1, 2013
|
|
|
301
|
|
|
|
473
|
|
|
|
35
|
|
|
|
809
|
|
|
|
Opened
|
|
|
2
|
|
|
|
17
|
|
|
|
9
|
|
|
|
28
|
|
|
|
Closed
|
|
|
-
|
|
|
|
(6
|
)
|
|
|
(2
|
)
|
|
|
(8
|
)
|
|
|
Refranchised
|
|
|
(8
|
)
|
|
|
8
|
|
|
|
-
|
|
|
|
-
|
|
|
|
At July 2, 2013
|
|
|
295
|
|
|
|
492
|
|
|
|
42
|
|
|
|
829
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended July 3, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At January 3, 2012
|
|
|
307
|
|
|
|
443
|
|
|
|
19
|
|
|
|
769
|
|
|
|
Opened
|
|
|
-
|
|
|
|
11
|
|
|
|
12
|
|
|
|
23
|
|
|
|
Closed
|
|
|
(2
|
)
|
|
|
(6
|
)
|
|
|
(1
|
)
|
|
|
(9
|
)
|
|
|
Refranchised
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
At July 3, 2012
|
|
|
305
|
|
|
|
448
|
|
|
|
30
|
|
|
|
783
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPARABLE STORE SALES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13 Week
|
|
|
13 Week
|
|
|
26 Week
|
|
26 Week
|
|
|
|
|
|
|
Period Ended
|
|
|
Period Ended
|
|
|
Period Ended
|
|
Period Ended
|
|
|
|
|
|
|
July 2, 2013
|
|
|
July 3, 2012
|
|
|
July 2, 2013
|
|
July 3, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage Change in Comparable store sales
|
|
|
|
|
|
|
|
|
|
|
|
Company stores
|
|
|
|
|
|
2.2
|
%
|
|
|
5.1
|
%
|
|
|
2.8
|
%
|
|
8.3
|
%
|
Franchise stores
|
|
|
|
|
|
1.2
|
%
|
|
|
6.4
|
%
|
|
|
0.2
|
%
|
|
8.4
|
%
|
System-wide
|
|
|
|
|
|
1.7
|
%
|
|
|
5.7
|
%
|
|
|
1.5
|
%
|
|
8.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage Change in Comparable Company store sales
|
|
|
|
|
|
|
|
|
|
|
|
Traffic effect
|
|
|
|
|
|
1.6
|
%
|
|
|
0.9
|
%
|
|
|
1.5
|
%
|
|
4.1
|
%
|
Average check effect
|
|
|
|
|
|
0.6
|
%
|
|
|
4.2
|
%
|
|
|
1.3
|
%
|
|
4.2
|
%
|
Total Comparable Company store sales
|
|
|
2.2
|
%
|
|
|
5.1
|
%
|
|
|
2.8
|
%
|
|
8.3
|
%
|
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