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Caribou Coffee: Sweeter bottom line with high-end chocolate?
Caribou plays the Guittard card.
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Decadence doesn't sell these days, but Caribou Coffee will make a bet starting Thursday that, at least in small doses, consumers still want to indulge. The Brooklyn Center operator of 525 coffee shops nationwide said it will use a premium chocolate in all of its drinks, starting today.
The chocolate from Guittard Chocolate of San Francisco will also be available for sale at Caribou locations.
Caribou says it will eventually add more premium items to its menu, including premium oatmeal and baked-at-the-shop goodies, which are currently in testing. The plan comes from CEO Michael Tattersfield, who joined the company in August 2008 and in his first year on the job reported quarterly profits at Caribou, something that eluded his predecessor.
The chocolate launch includes a national television ad, Caribou's first, that was shot at Southdale Mall and at the store at 6801 York Av. S. in Edina.
Shares of Caribou, which dropped to $1.32 one year ago, closed Wednesday at $8.62.
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