Caribou Coffee Company consolidated sales up 16.5 per cent in second quarter

Caribou Coffee Company Inc., reported on 3 August financial results for the second quarter of 2011. Highlights in the second quarter, included consolidated sales increased by 16.5 per cent, comparable coffeehouse store sales increased 4.6 per cent, and commercial and franchise sales increased 81.8 per cent.
Speaking on behalf of the company, Michael Tattersfield, the Company’s President and Chief Executive Officer commented, “We delivered exceptional results during the recent quarter, with robust revenue growth across our three business lines and a substantial increase in profitability and operating cash flow.” Tim Hennessy, the Company’s Chief Financial Officer added, “Given our year-to-date results, we are increasing our 2011 guidance and are now expecting consolidated sales growth of 11 per cent to 13 per cent… More importantly, we are confident in our market positioning and believe that we are strengthening Caribou’s brand equity, building the community place loved by our guests, and creating long-term value for our shareholders.” Caribou Coffee Company is the second largest company-owned premium coffeehouse operator in the United States based on the number of coffeehouses. As of July 3, the company had 554 coffeehouses, including 147 franchised locations, in 20 states, the District of Columbia and nine international markets.