4. Caribou Coffee Company (CBOU), a majority-owned subsidiary of Caribou Holding company, runs coffeehouses in the U.S. It has 534 coffeehouses, including 121 franchised locations. The company operates in three segments: retail, commercial and franchise.
Sales for the second quarter of 2011 stood at $80.3 million, increasing 16.5% from the year-earlier quarter. Net income for the quarter was $4.4 million, or 21 cents per share, as against $2.4 million, or 12 cents per share, in the corresponding quarter of 2010. Commercial and franchise sales for the quarter soared 81.8%, while comparable coffeehouse store sales grew 4.6%.
The company recently announced a partnership with CROSSMARK, a leading sales and marketing services company in the consumer packaged goods space, to support the expansion of its packaged coffee business. Besides, Caribou announced that its holding company is offering for sale 5.15 million shares of common stock through an underwritten public offering.The company has raised its full-year guidance for net sales to a range of 11% to 13% from the earlier 7% to 9%. Meanwhile, diluted earnings per share on a pro-forma basis are expected between 39 cents and 41 cents, compared to the earlier forecast of 35 cents to 37 cents. Of the six analysts covering the stock, five rate it a buy. The average 12-month price target of analysts polled by Bloomberg is $18.50, 17.5% greater than recent levels.