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This excerpt taken from the CBOU DEF 14A filed Apr 17, 2009. Overview
In March 2009, the Compensation Committee recommended to our
Board and our Board approved, subject to shareholder approval, a
proposal permitting the Company to conduct a one-time option
exchange program (the “Option Exchange Program”).
Under the proposed Option Exchange Program, Eligible Options
(defined below) held by Eligible Participants (defined below)
would be exchanged for New Options (defined below) granted under
our 2005 Equity Incentive Plan. The key terms of the proposed
Option Exchange Program are:
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We believe that, if approved by the shareholders, the Option
Exchange Program will permit us to:
If we do not obtain shareholder approval of this proposal, we
will not be able to implement the Option Exchange Program.
These excerpts taken from the CBOU 10-K filed Mar 20, 2009. Overview
We are the second largest company-operated gourmet coffeehouse
operator in the United States based on the number of
coffeehouses. As of December 30, 2008, we had 511 retail
locations, including 97 franchised. Our coffeehouses are located
in 19 states and the District of Columbia and two
international markets. We focus on offering our customers
high-quality gourmet coffee and espresso-based beverages, as
well as specialty teas, baked goods, whole bean coffee, branded
merchandise and related products. In addition, we sell our
products to grocery stores and mass merchandisers, office coffee
providers, airlines, hotels, sports and entertainment venues,
college campuses and other commercial customers. We focus on
creating a unique experience for customers through a combination
of high-quality products, a comfortable and welcoming
coffeehouse environment and customer service.
We will continue our efforts to increase our comparable
coffeehouse sales, including increasing our brand awareness
through marketing efforts and introducing new products and
promotions. As our comparable coffeehouse sales increase, we
expect our operating margins at those coffeehouses to improve as
we expect to have a greater ability to leverage our fixed
expense.
During our fiscal year ending December 28, 2008, the
commercial segment experienced sales growth of 44% versus the
prior fiscal year. Our growth strategy for the commercial
segment is to continue to build our existing relationships with
grocery stores and national office coffee providers and add new
points of distribution for our gourmet whole bean and ground
coffee.
We intend to continue to strategically expand our coffeehouse
locations in our existing markets. During fiscal year 2008, we
opened 52 new coffeehouses, including 7 new company-operated
coffeehouses. Our goal is to expand our concept into a
nationally recognized brand in the United States by opening new
company-operated coffeehouses and partnering with qualified
developers to open franchised coffeehouses while adding select
international locations through franchising.
Overview We are the second largest company-operated gourmet coffeehouse operator in the United States based on the number of coffeehouses. As of December 30, 2008, we had 511 retail locations, including 97 franchised. Our coffeehouses are located in 19 states and the District of Columbia and two international markets. We focus on offering our customers high-quality gourmet coffee and espresso-based beverages, as well as specialty teas, baked goods, whole bean coffee, branded merchandise and related products. In addition, we sell our products to grocery stores and mass merchandisers, office coffee providers, airlines, hotels, sports and entertainment venues, college campuses and other commercial customers. We focus on creating a unique experience for customers through a combination of high-quality products, a comfortable and welcoming coffeehouse environment and customer service. We will continue our efforts to increase our comparable coffeehouse sales, including increasing our brand awareness through marketing efforts and introducing new products and promotions. As our comparable coffeehouse sales increase, we expect our operating margins at those coffeehouses to improve as we expect to have a greater ability to leverage our fixed expense. During our fiscal year ending December 28, 2008, the commercial segment experienced sales growth of 44% versus the prior fiscal year. Our growth strategy for the commercial segment is to continue to build our existing relationships with grocery stores and national office coffee providers and add new points of distribution for our gourmet whole bean and ground coffee. We intend to continue to strategically expand our coffeehouse locations in our existing markets. During fiscal year 2008, we opened 52 new coffeehouses, including 7 new company-operated coffeehouses. Our goal is to expand our concept into a nationally recognized brand in the United States by opening new company-operated coffeehouses and partnering with qualified developers to open franchised coffeehouses while adding select international locations through franchising. These excerpts taken from the CBOU 10-K filed Mar 21, 2008. Overview
We are the second largest company-operated gourmet coffeehouse
operator in the United States based on the number of
coffeehouses. As of December 31, 2007, we had 484 retail
locations, including 52 franchised locations and six joint
venture locations. Our coffeehouses are located in
16 states and the District of Columbia and two
international markets. We focus on offering our customers
high-quality gourmet coffee and espresso-based beverages, as
well as specialty teas, baked goods, whole bean coffee, branded
merchandise and related products. In addition, we sell our
products to grocery stores and mass merchandisers, office coffee
providers, airlines, hotels, sports and entertainment venues,
college campuses and other commercial customers. We focus on
creating a unique experience for customers through a combination
of high-quality products, a comfortable and welcoming
coffeehouse environment and customer service.
We will continue our efforts to increase our comparable
coffeehouse sales, including increasing our brand awareness
through marketing efforts and introducing new products and
promotions. As our comparable coffeehouse sales increase, we
expect our operating margins at those coffeehouses to improve as
we expect to have a greater ability to leverage our fixed
expense.
We intend to continue to strategically expand our coffeehouse
locations in our existing markets. During fiscal year 2007, we
opened 48 new coffeehouses, including 20 new company-operated
coffeehouses. Our goal is to expand our concept into a
nationally recognized brand in the United States by opening new
company-operated coffeehouses and partnering with qualified
developers to open franchised coffeehouses while adding select
international locations through franchising.
Overview We are the second largest company-operated gourmet coffeehouse operator in the United States based on the number of coffeehouses. As of December 31, 2007, we had 484 retail locations, including 52 franchised locations and six joint venture locations. Our coffeehouses are located in 16 states and the District of Columbia and two international markets. We focus on offering our customers high-quality gourmet coffee and espresso-based beverages, as well as specialty teas, baked goods, whole bean coffee, branded merchandise and related products. In addition, we sell our products to grocery stores and mass merchandisers, office coffee providers, airlines, hotels, sports and entertainment venues, college campuses and other commercial customers. We focus on creating a unique experience for customers through a combination of high-quality products, a comfortable and welcoming coffeehouse environment and customer service. We will continue our efforts to increase our comparable coffeehouse sales, including increasing our brand awareness through marketing efforts and introducing new products and promotions. As our comparable coffeehouse sales increase, we expect our operating margins at those coffeehouses to improve as we expect to have a greater ability to leverage our fixed expense. We intend to continue to strategically expand our coffeehouse locations in our existing markets. During fiscal year 2007, we opened 48 new coffeehouses, including 20 new company-operated coffeehouses. Our goal is to expand our concept into a nationally recognized brand in the United States by opening new company-operated coffeehouses and partnering with qualified developers to open franchised coffeehouses while adding select international locations through franchising. This excerpt taken from the CBOU 10-K filed Apr 2, 2007. Overview
We are the second largest company-owned gourmet coffeehouse
operator in the United States based on the number of
coffeehouses. As of December 31, 2006, we had 464 retail
locations, including 24 franchised locations and five joint
venture locations. Our coffeehouses are located in
18 states and the District of Columbia and two
international markets. We focus on offering our customers
high-quality gourmet coffee and espresso-based
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beverages, as well as specialty teas, baked goods, whole bean
coffee, branded merchandise and related products. In addition,
we sell our products to grocery stores and mass merchandisers,
office coffee providers, airlines, hotels, sports and
entertainment venues, college campuses and other commercial
customers. We focus on creating a unique experience for
customers through a combination of high-quality products, a
comfortable and welcoming coffeehouse environment and customer
service.
We intend to continue to strategically expand our coffeehouse
locations in our existing markets. During fiscal year 2006, we
opened 80 new coffeehouses, including 60 new company-operated
coffeehouses. Our goal is to expand our concept into a
nationally recognized brand in the United States by opening new
company-owned coffeehouses and partnering with qualified
developers to open franchised coffeehouses while adding select
international locations through franchising.
In addition, a key part of our continued business expansion is
the aggressive development of a national brand presence through
brand licensing agreements. In 2006, we entered into long-term
licensing agreements between Kemps and General Mills. The
licensing agreement with Kemps allows Kemps to use Caribou
Coffee trademarks and coffee in producing various gourmet coffee
flavored ice cream products. The products are sold at retail
grocery stores. Under another licensing agreement, General Mills
uses the Caribou Coffee marks and coffee in the production of
four gourmet coffee flavored snack bars marketed throughout the
U.S. In November 2006, we announced our third brand
licensing arrangement with
Coca-Cola
North America to launch a new line of premium
ready-to-drink
iced coffees in the U.S. during the summer of 2007. Our
most recent business licensing agreement is with Keurig
Incorporated. Under this licensing agreement Caribou Coffee will
be packaged in Keurig K-Cups offering single cup coffee lovers
eight varieties to choose from for both at home and in the
office consumption.
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