News

Caribou's net loss tops $9 million

February 15, 2007

Minneapolis — Caribou Coffee Co. Inc. reported a same-store sales increase of 2 percent for the fourth quarter ended Dec. 31.For the year, comps fell 1 percent.

Revenues for the quarter increased 18 percent to $66.7 million compared with 4Q '05. Revenues for the year increased 19 percent to $236.2 million compared with revenue of $198 million in 2005.

Caribou lost $2 million in the fourth quarter, compared with a net loss of $601,000 in the 2005 fourth quarter. For the year, Caribou booked a net loss of $9.1 million, compared with a net loss of $4.9 million in 2005.

As of Dec. 31, Caribou operated 464 coffeehouses in 18 states, the District of Columbia and internationally, including 440 company-owned and 24 licensed locations. The company plans to open 50 to 70 new locations in 2007, including 25 to 30 company-owned locations and 25 to 40 franchised locations.