August 06, 2012
SAN FRANCISCO — Caribou Coffee shares fell 5% to $10.40 in after-hours trade Monday after the coffee retailer cut its sales outlook for the second time since Feb. 22. Caribou largely blamed the lower forecast on fewer sales of its coffee sold on Green Mountain Coffee Roasters K-Cup platform. Caribou now expects no sales growth in 2012. Earlier this year, the Minnesota-based coffee company had pegged growth of 10%. “The change in the company’s outlook is primarly attributable to the expectations of lower sales related to its Green Mountain relationship, which is driven by continued channel shifting, the short-term impact of new price tiers in the category, as well as the loss of a significant account in the club business,” Caribou said in a statement. Ahead of the report, Caribou shares were down 22% since Jan. 1.