Caribou quarterly loss widens

Updated: February 14, 2008 - 11:29 PM

Caribou Coffee Co. said its fourth-quarter loss widened to $15.1 million, or 78 cents a share, from $2 million, or 10 cents a share, in the year-ago period. Results were hurt by closing expense, asset-disposal costs and higher depreciation from impaired company-owned coffeehouses.

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The Minneapolis gourmet coffeehouse operator said same-store sales were flat for the fourth quarter. Total sales rose 5.2 percent to $70.2 million from $66.7 million in the year-ago period. Analysts polled by Thomson First Call, on average, projected a loss of 19 cents a share with revenue of $69.67 million.

For 2008, the company expects to open 5 to 10 company-owned coffeehouses and 30 to 40 franchise coffeehouses.

DOW JONES NEWS SERVICE

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