Caribou Coffee Added to Russell 3000® Index
June 30 2009 - 9:05AM
Business Wire
Caribou Coffee Company, Inc. (Nasdaq: CBOU), the second largest
company-owned gourmet coffeehouse operator in terms of
coffeehouses, today announced that its stock has been added to the
Russell 2000� Index.
Annual reconstitution of Russell�s U.S. indexes captures the
largest U.S. stocks as of the end of May, ranking them by total
market capitalization. Membership in the Russell 2000, which
remains in place for one year, is based on inclusion in the
broad-market Russell 3000� Index.
Tim Hennessy, the Company�s Chief Financial Officer commented,
"We are very pleased to become a member of the Russell Indexes.
Being added to these Indexes should also increase our visibility in
the investment community and expand our investor base."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for both
passive and active investment strategies. An industry-leading $4
trillion in assets currently are benchmarked to them. These
investment tools originated from Russell�s multi-manager investment
business in the early 1980s when the company saw the need for a
more objective, market-driven set of benchmarks in order to
evaluate outside investment managers.
The reconstitution for the Russell 3000� Index took effect on
June 26 after the close of the U.S. markets. Final membership is
posted on the Russell Web site (www.russell.com).
ABOUT THE COMPANY
Caribou Coffee Company, Inc., 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 March 29, 2009, Caribou Coffee had
515 coffeehouses, including 101 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. In
addition, Caribou Coffee sells products to club stores, grocery
stores, mass merchandisers, office coffee providers, airlines,
hotels, sports and entertainment venues, college campuses and
online customers. 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.
About Russell:
Russell Investments provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range
of institutional-quality investment products. Russell has $136
billion in assets under management as of March 31, 2009, and serves
individual, institutional and advisor clients in more than 40
countries. Founded in 1936, Russell is a subsidiary of The
Northwestern Mutual Life Insurance Company.
Forward-Looking Statements
Certain statements made by or on behalf of Caribou Coffee during
the conference call 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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