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Jamba, Inc. (JMBA) Message Board

kdp_vod 15 posts  |  Last Activity: Dec 12, 2014 7:39 PM Member since: Aug 8, 2008
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  • Reply to

    Engaged Capital Still Buying

    by kdp_vod Dec 11, 2014 4:14 PM
    kdp_vod kdp_vod Dec 12, 2014 7:39 PM Flag

    Nvr,

    Between Engaged Capital and JCP Investment, who have already submitted nominations for new board members, it seems quite obvious that Jamba is under great pressure from activist investors.

    I wish I had held true to my convictions and bought more around $12. It felt like some force was supporting the stock price at that level. Turns out, it was. At this point, I will likely just sit tight with my now-tiny number of shares.

    I believe JMBA has done some things well but, sadly, seems to have done a lot of "one step forward, two steps back." I believe the company is in desperate need of a gifted visionary who can generate some real "buzz" around the product.

  • In July of this year, it was revealed that Engaged Capital had purchased 1.2M shares of Jamba, roughly 7% of the company. Another SEC filing today revealed that they are still buying. Now they are up to over 1.4M shares, or 8.2% of the company.

    -----------------------------
    "As of the close of business on December 10, 2014, Engaged Capital Master I beneficially owned 610,465 Shares, constituting approximately 3.5% of the Shares outstanding. Each of Engaged Capital I and Engaged Capital Offshore, as feeder funds of Engaged Capital Master I, may be deemed to beneficially own the 610,465 Shares owned by Engaged Capital Master I, constituting approximately 3.5% of the Shares outstanding.

    As of the close of business on December 10, 2014, Engaged Capital Master II beneficially owned 821,424 Shares, constituting approximately 4.7% of the Shares outstanding. Each of Engaged Capital II and Engaged Capital Offshore II, as feeder funds of Engaged Capital Master II, may be deemed to beneficially own the 821,424 Shares owned by Engaged Capital Master II, constituting approximately 4.7% of the Shares outstanding.

    Engaged Capital, as the general partner and investment adviser of Engaged Capital Master I and Engaged Capital Master II, may be deemed to beneficially own the 1,431,889 Shares owned in the aggregate by Engaged Capital Master I and Engaged Capital Master II, constituting approximately 8.2% of the Shares outstanding."

    ---------------------------

  • Reply to

    james white.

    by jamaican_holiday Dec 5, 2014 6:16 PM
    kdp_vod kdp_vod Dec 5, 2014 7:22 PM Flag

    Jamaican,

    I presume you have seen yesterday's 8-K filing, as follows:

    "Jamba, Inc. (“Jamba” or the “Company”) is disclosing by this Current Report on Form 8-K that JCP Investment Partnership, LP (“JCP”) submitted a timely notice of nomination of six director candidates to stand for election to Jamba’s Board of Directors at the Company’s 2015 Annual Meeting of Stockholders. Based upon the shares of Company common stock indicated to be beneficially owned by JCP and its nominees in the notice of nomination, JCP and their nominees beneficially owned an aggregate of approximately 2.3% of the Company’s outstanding shares of common stock as of the time of nomination."

    So now, in addition to Engaged Capital you have another large shareholder who appears to be less than enamored with the Jamba Board of Directors. In turn, I read this to imply that they believe Jamba's senior management may be lacking, and that the current Board has allowed it to go on too long.

  • Reply to

    Jamba in Turmoil?

    by kdp_vod Nov 6, 2014 3:01 PM
    kdp_vod kdp_vod Nov 25, 2014 7:20 PM Flag

    Bump.

  • Reply to

    Jamba in Turmoil?

    by kdp_vod Nov 6, 2014 3:01 PM
    kdp_vod kdp_vod Nov 25, 2014 5:03 PM Flag

    Re: item #2 above.

    Had an extra Jamba gift card lying around so I went there for lunch today. Found out something else I hadn't realized. The "meal deal" is no more. I got a sandwich from the case and a smoothie. Just a few months ago, this combination would likely have cost me about $7.50. Today? $8.68.

    If you divide $8.68 by $7.50, that's a whopping 16% increase. Suddenly, a 4.4% SSS "increase" doesn't seem so spectacular. Admittedly, this is an "outside" case, as not every transaction will be a meal deal. But still . . .

  • Reply to

    Jamba in Turmoil?

    by kdp_vod Nov 6, 2014 3:01 PM
    kdp_vod kdp_vod Nov 10, 2014 6:33 PM Flag

    nvr,

    Engaged Capital took a large position in Abercrombie & Fitch and, eventually, got into quite a public fight with their board around replacing their CEO due to underperformance. So, there is precedent that it could happen here as well. Not saying it will, just that it could.

  • Reply to

    Jamba in Turmoil?

    by kdp_vod Nov 6, 2014 3:01 PM
    kdp_vod kdp_vod Nov 7, 2014 12:27 PM Flag

    Both on the call and in their printed materials, the company is touting the Jamba Energy Bowls as if they were some exciting new development. The simple fact is; at a fundamental level, they aren't. If you have any doubt, Google "Chunky Strawberry Topper" and "Jamba Juice Fruit and Yogurt Parfaits."

    Using that first search, you will quickly find all sorts of hits, including YouTube videos of how to make one for yourself at home. Yes, the Chunky Strawberry Topper has been around for many years. Using the second search, you should quickly find a link to a 2012 article on the "Serious Eats" website that includes the former "Chunky Strawberry Topper" now rebranded as "Chunky Strawberry Fruit & Yogurt Parfait."

    And now, voila, it's the "Chunky Strawberry Energy Bowl" and is touted as something fresh, exciting and new. The only difference I can see is that they now top it with strawberries, and serve it in a bowl as opposed to a cup.

    Why am I going to all the trouble to point this out? Because, to me, it is an example of the incessant "hype" that is presented, while simultaneously dodging or obscuring any (apparently) failed ventures, such as Jamba Energy Drinks or Talbott Teas.

  • That Q3 report was sure interesting. Here, in no particular order, some random thoughts:

    1. Maybe I'm mistaken, but I feel like I picked up lots of turmoil on the call. There seemed to be a lot of 'dancing' going on. The analysts positively grilled them for the entire allotted Q&A time, and I'm not at all sure all of them were buying the answers. One, in particular, called out the fact that they had not even updated 2014 guidance. Either they were trying to duck something, or they were so harried by something that they simply missed it.

    2. That 3.7% SSS "gain" actually breaks down as 4.4% increase in average ticket, with a .7% decrease in traffic. I can't help but note that Jamba's menu prices have been relentlessly increasing this year, so much of that 4.4% might have simply been price increases. Also, I thought the new fresh juice platform was supposed to INCREASE repeat, or incremental, business. How does that square up with a decrease in traffic?

    3. Apparently, Jamba Energy drinks and the ice cream bars are done. Still not a word about Talbott Teas.

    4. On the other side of the coin, it is obvious that Jamba is under a LOT of pressure from someone, likely Engaged Capital. They spent a lot of time talking about items that are on Engaged's list of "action items." Engaged has invested $1.2M in this thing, and it feels like the pressure is on.

    I'm torn. The Q3 report felt like a mess. But, I suspect there may still be value to be recognized in this company. I'm just wondering if it is going to be with White at the helm. There were several occasions when he was talking about "transition" and I'm thinking: "Umm, you have been there 6 years now. That's a long transition."

  • Reply to

    Don't know if anyone has noticed, but . . .

    by kdp_vod Oct 15, 2014 11:48 AM
    kdp_vod kdp_vod Oct 16, 2014 1:56 PM Flag

    Oops. Didn't take advantage of my own observation. $12.67 as I write this.

  • JMBA has actually hung in there at just above the $12.00 level even in the midst of the chaos of the past few days. That may say something about where the support is.

  • Reply to

    Same old thing with October/November

    by alexejroma Oct 2, 2014 12:36 AM
    kdp_vod kdp_vod Oct 10, 2014 6:08 PM Flag

    So far, so good. Now at $12.07.

  • Reply to

    Same old thing with October/November

    by alexejroma Oct 2, 2014 12:36 AM
    kdp_vod kdp_vod Oct 8, 2014 2:29 PM Flag

    I came close to pulling the trigger this morning, in the $12.50 area. I held off only because the market seems a little "soft" in here, and JMBA typically gets beaten up pretty bad in such an environment, as we have witnessed in the last few days.

    I might note that Engaged Capital bought some of their shares as high as just slightly north of $12.50, which meant they were willing to pay this to fill (I'm assuming) their desired full position. As mentioned before, this could serve as a reference point for other investors.

    On the other hand, winter is coming, typically Jamba's softest period. A lot to weigh, to be sure.

  • Reply to

    Same old thing with October/November

    by alexejroma Oct 2, 2014 12:36 AM
    kdp_vod kdp_vod Oct 7, 2014 12:28 PM Flag

    It came close today, didn't it? $13.01.

  • Reply to

    Same old thing with October/November

    by alexejroma Oct 2, 2014 12:36 AM
    kdp_vod kdp_vod Oct 2, 2014 3:31 PM Flag

    Alex,

    I posted a little note yesterday concerning Engaged Capital's average share price. My thought is that if Jamba slumps down to anywhere below $13, it might be worth a look at adding some shares. I suspect there will be continued pressure on the company from this activist shareholder which could serve as somewhat of a "floor" on the share price.

    I might note that I did sell a little at around $14.50 because I felt like it might have gotten a little over-hyped. I certainly would look at buying back those shares (and perhaps even a little more) should it break $13.

  • Reply to

    Engaged Capital buys 1.2M shares

    by dickus44 Jul 23, 2014 5:58 PM
    kdp_vod kdp_vod Oct 1, 2014 1:48 PM Flag

    As a matter of record, and perhaps to help others make their own purchase decisions, Engaged Capital's average share price appears to be roughly $11.38, excluding commissions.

    This is based on their public filing which lists a total cost of $13,659,858, excluding commissions. The total number of shares they acquired is 1,200,000.

    Since that time, the stock has soared as high as $14.95 (intraday high - August 11). As I write this, it has fallen back to $13.83.

JMBA
14.14-0.02(-0.14%)Dec 19 4:00 PMEST

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