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Caribou Coffee Company, Inc. (CBOU) SEC Filing 10-Q Quarterly report for the period ending Sunday, July 3, 2011

Caribou Coffee Company, Inc.

CIK: 1332602 Ticker: CBOU

Exhibit 99.1

FOR IMMEDIATE RELEASE

 

Caribou Coffee Company, Inc.

3900 Lakebreeze Avenue North

Minneapolis, MN 55429

(763) 592-2200

   LOGO

Investor Relations Contact:

Raphael Gross

(203) 682-8253

ir@cariboucoffee.com

  

 

CARIBOU COFFEE REPORTS SECOND QUARTER 2011 RESULTS

UPDATES 2011 OUTLOOK AND RAISES DILUTED EPS RANGE

MINNEAPOLIS, MINNESOTA, August 3, 2011.

Caribou Coffee Company, Inc. (NASDAQ:CBOU), the second largest company-owned premium coffeehouse operator in the United States based on the number of coffeehouses, today reported financial results for the second quarter of 2011 (thirteen weeks ended July 3, 2011). The Company also updated its fiscal 2011 outlook and raised its diluted EPS guidance range for the year.

HIGHLIGHTS FOR THE SECOND QUARTER OF 2011 INCLUDE:

 

   

Consolidated sales increased 16.5%

 

   

Comparable coffeehouse store sales increased 4.6%

 

   

Commercial and Franchise sales increased 81.8%

 

   

Net income attributable to Caribou Coffee Company, Inc. was $4.4 million, or $0.21 per diluted share

 

   

Non-GAAP pro forma net income attributable to Caribou Coffee Company, Inc. was $2.7 million, or $0.13 per diluted share, compared to pro forma net income of $1.5 million, or $0.07 per diluted share for the same period in 2010 (see non-GAAP reconciliation at the end of this release)

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. This level of performance demonstrates successful execution of our multi-channel business model and we are continuing to realize the tremendous opportunities we have within our coffeehouse, commercial and franchise segments. 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% to 13% and our diluted EPS range to be between $0.39 and $0.41 on a pro forma basis. 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.”


The following information was filed by Caribou Coffee Company, Inc. (CBOU) on Wednesday, August 3, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Caribou Coffee Company, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2011 10-K Annual Report includes:

  • Voting Procedures
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  • Executive Team
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SEC Filing Tools
Ticker: CBOU
CIK: 1332602
Form Type: 10-Q Quarterly Report
Accession Number: 0000950123-11-072964
Submitted to the SEC: Thu Aug 04 2011 4:41:15 PM EST
Accepted by the SEC: Thu Aug 04 2011
Period: Sunday, July 3, 2011
Industry: Retail Eating And Drinking Places

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