Caribou to close 80 stores, rebrand 88 others

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Minneapolis-based Caribou Coffee is closing 80 locations next week and plans to convert 88 others to Peet's Coffee & Tea shops, the company announced Monday, reported CNN.

The 80 stores closing are "underperforming" and will close for good on Sunday, reported CNN.

Caribou says it is making the changes after several months of consideration to better position the coffee company for long-term grown, reported Huffington Post.

When the closings are complete, Caribou plans to continue to operate 468 locations in Minnesota, North and South Dakota, Iowa, Kansas, western Wisconsin, North Caroline, Denver, Colorado, and 10 international markets, reported CNN.

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This page contains a single entry by felml007 published on April 8, 2013 10:55 PM.

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