Jamba Juice launches YouTube promotion
Emeryville, Calif. – Jamba, Inc., parent company of Jamba Juice, is partnering with DanceOn, a YouTube network exclusively dedicated to dance entertainment, to execute a digital campaign to inspire customers to participate in the "Blend in the Good" summer dance video contest. From now until Aug. 31, the online contest will encourage dance enthusiasts to submit unique videos.
One winner will be selected each month to receive a trip for two to a dance experience, as well as have their winning video featured and promoted across the DanceOn and Jamba Juice networks. Each winner will also receive a $100 Jamba Juice gift card. The partnership will also include a special Jamba Juice appearance in an upcoming episode of DanceOn’s celebrity docu-series, The Edge.
"DanceOn and Jamba Juice both have a core fan base of people who like to have fun and are motivated by healthy living – that alone makes this partnership a perfect one," said Julie S. Washington, senior VP and chief brand officer of Jamba Juice. "We’re looking forward to tapping into the passionate dancers on YouTube and their engaged online communities. Through original programming like The Edge, as well as a co-branded competition driving user-generated content, Jamba Juice will be a part of conversations that matter to them."
Taxes reduce Fred’s Q1 net income
Memphis, Tenn. – Fred’s Inc. cited higher income taxes as contributing to declining net income in the first quarter of fiscal 2014. Net income totaled $6.1 million, down 46% from $11.4 million in the same quarter in the previous year.
Fred’s total sales for the first quarter of fiscal 2014 were $498.3 million, down slightly from $501.5 million for the first quarter last year. Same-store sales for the quarter declined 1.9%.
"As we outlined in our April sales release, the first quarter was a challenging period for Fred’s due to a number of headwinds,” said Bruce A. Efird, CEO. “These challenges included intense competitive promotions and poor weather throughout much of the spring, which affected general merchandising. In addition to the sales impact of these issues, we also encountered extraordinary inflationary pressures on generic drugs in the first quarter, as we forecasted in our year-end 2013 press release.”
Fred’s is planning an overhaul of its stores and marketing strategy that includes a new front end, adjacencies and fixtures in late June, with substantial completion early in the fourth quarter and the balance in first quarter 2015. The store layout will better serve the needs of shoppers making convenience-based trips, which Fred’s sees as an area for growth.
Frederick’s of Hollywood shareholders OK going private
Hollywood, Calif. – Frederick’s of Hollywood Group Inc. shareholders approved, at a special meeting of shareholders held May 28, the previously disclosed merger agreement that provides for the acquisition of the company. The merger was approved by more two-thirds of the aggregate voting power of the company’s common stock.
The total transaction is valued at approximately $24.8 million. The agreement calls for Frederick’s to be acquired by a group consisting of HGI Funding LLC, a wholly owned subsidiary of Harbinger Group Inc., other common and preferred shareholders who as a group beneficially own approximately 88.9% of the company’s common stock.