News

Caribou net loss narrows

August 5, 2008

MINNEAPOLIS – Comparable-store sales at company-owned Caribou Coffee Co. restaurants fell 1.7 percent in the second quarter ended June 29, the company announced. Year-to-date comps were off 2 percent.

Revenues for the company increased slightly to $63.2 million, compared with revenues of $62.3 million in the 2007 second quarter. Year-to-date revenues were $124.9 million compared with revenues of $124.7 million of the first half of last year.

The revenue increase was primarily due to an increase in Other Sales. Coffeehouse sales fell 4 percent for the quarter.

The company lost $2.4 million in the second quarter, compared with a lost of $3.9 million for the second quarter of last year. Year-to-date, the company lost $8.8 million compared with a loss of $7.1 million for the first half of 2007.