Caribou Coffee Announces Preliminary 4Q and Full Year 2007 Total Net Sales and Comparable Coffeehouse Net Sales
January 11 2008 - 9:00AM
Business Wire
Caribou Coffee Company, Inc. (Nasdaq:CBOU), the second largest
company-owned gourmet coffeehouse operator in terms of
coffeehouses, today announced that total net sales for the thirteen
weeks ended December 30, 2007, was approximately $70.1 million, an
increase of 5 percent over the same period in the prior year. For
the fifty-two week period ended December 30, 2007, total revenue
rose 9 percent over the same period in the prior year. Comparable
Coffeehouse Sales Comparable coffeehouse net sales were flat (0
percent) for the thirteen and fifty two weeks ended December 30,
2007, compared with the same thirteen and fifty two weeks in the
prior year. Franchised stores are not included in the comparable
coffeehouse net sales calculations. Rosalyn (Roz) Mallet, the
Company�s Interim CEO, commented, �We are pleased with our comp
performance during the fourth quarter, particularly in light of
weak consumer spending patterns which had a negative impact on the
industry.� Other Sales Preliminary �Other Sales�, which consist of
sales to commercial customers, franchisees, mail order and Internet
sales, increased 84 percent during the thirteen weeks ended
December 30, 2007, to $5.5 million versus $3.0 million during the
thirteen weeks ended December 31, 2006. This increase was primarily
driven by commercial and franchise sales. For the fifty-two week
period ended December 30, 2007, �Other Sales� were 57 percent
higher than the same period in the prior year. Coffeehouse Openings
At December 30, 2007, there were 484 coffeehouses, of which 9
company-owned and 11 franchised coffeehouses opened during the
thirteen weeks ended December 30, 2007. Caribou Coffee closed 9
company-owned coffeehouses during the thirteen weeks ended December
30, 2007, and 28 for the full fiscal year ended December 30, 2007.
Select Operating Data � � � � � � � � � � 13 Weeks � 13 Weeks � 52
Weeks � 52 Weeks 12/30/2007 � 12/31/2006 � 12/30/2007 � 12/31/2006
� Comparable Coffeehouse Sales (Company-Owned) 0% 2% 0% -1% �
COFFEEHOUSE COUNT Company-Owned: Coffeehouses Open at Beginning of
Period 432 416 440 386 Coffeehouses Opened during the Period 9 25
20 60 Coffeehouses Closed during the Period 9 1 28 6 Coffeehouses
Open at End of Period: Total Company-Owned 432 440 432 440 �
Franchised: Coffeehouses Open at Beginning of Period 41 16 24 9
Coffeehouses Opened during the Period 11 8 28 20 Coffeehouses
Closed during the Period 0 0 0 5 Coffeehouses Open at End of
Period: Total Franchised 52 24 52 24 TOTAL COFFEEHOUSES AT PERIOD
END 484 464 484 464 2008 Outlook For fiscal 2008 Caribou Coffee is
projecting the following: 5 � 10 company-owned coffeehouse openings
30 - 40 franchise coffeehouse openings Coffeehouse closings and
closing expenses consistent with fiscal 2007 Capital Expenditures
of $10 million - $12 million The Company expects to release fiscal
fourth quarter and full year 2007 financial results after the
market close on Thursday, February 14, 2008. The Company will host
a conference call the same day. About the Company Caribou Coffee,
founded in 1992 and headquartered in Minneapolis, Minnesota, is the
second largest company owned gourmet coffeehouse operator in the
United States based on the number of coffeehouses. As of December
30, 2007, Caribou Coffee had 484 coffeehouses, including 52
franchised locations. Caribou Coffee offers its customers
high-quality gourmet coffee and espresso-based beverages, as well
as specialty teas, baked goods, whole bean coffee, branded
merchandise and related products. Caribou Coffee also sells
products to club stores, grocery stores, mass merchandisers, office
coffee providers, airlines, hotels, sports and entertainment
venues, college campuses and other commercial customers. In
addition, Caribou Coffee licenses third parties to use the Caribou
Coffee brand on quality food and merchandise items. Caribou Coffee
focuses on creating a unique experience for customers through a
combination of high-quality products, a comfortable and welcoming
coffeehouse environment and a unique style of customer service. For
more information, visit the Caribou Coffee web site at
www.cariboucoffee.com. Forward-Looking Statements Certain
statements in this release, and other written or oral statements
made by or on behalf of Caribou Coffee are �forward-looking
statements� within the meaning of the federal securities laws.
Statements regarding future events and developments and our future
performance, as well as management�s current expectations, beliefs,
plans, estimates or projections relating to the future, are
forward-looking statements within the meaning of these laws. These
forward-looking statements are subject to a number of risks and
uncertainties. Among the important factors that could cause actual
results to differ materially from those indicated by such
forward-looking statements are: fluctuations in quarterly and
annual results, incurrence of net losses, adverse effects of
management focusing on implementation of a growth strategy, failure
to develop and maintain the Caribou Coffee brand and other factors
disclosed in the Company�s filings with the Securities and Exchange
Commission. The Company undertakes no obligation to update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
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