Confirmed: Caribou is closing 80 shops; rebranding 88 others - Bring Me The News

Confirmed: Caribou is closing 80 shops; rebranding 88 others

Author:
Updated:
Original:

Caribou Coffee Co. Inc. has confirmed that it's closing 80 under-performing shops nationwide, KARE 11 reports. Another 88 locations will be converted to Peet's Coffee and Tea over the next 12 to 18 months.

"Over the past few months, we at Caribou have revisited our business strategy, including closely evaluating our performance by market to make decisions that best position us for long-term growth," the company said in a written statement to the station. "While the decisions we've made have been difficult for our team in Minneapolis, as well as our team members across the country and our guests and fans everywhere, we are working to make this transition as seamless as possible for the Caribou community."

At least two Minnesota shops -- the Caribous at 5309 Lyndale Ave. S. in Minneapolis and 6600 Lyndale Ave. S. in Richfield -- are among those slated for closure on Sunday, April 14, the Pioneer Press reports.

Rumors of the closures began this weekend after employees and customers at several Caribou Coffee locations in Illinois, Ohio and North Carolina were greeted by "store closing" signs, according to several media outlets.

Unhappy coffee lovers took to social media to voice their distaste.

Despite shrinking its retail footprint by more than 25 percent, Caribou's CEO told the Business Journal that no cutbacks are planned at its Brooklyn Center headquarters.

"Our support center in Minneapolis, also home to of our state-of-the-art Caribou roasting facility, is a crucial part of what Caribou is all about and why we’re able to deliver such extraordinary experiences to fans on an everyday basis at our retail locations and through our grocery offering," CEO Mike Tattersfield said in an email statement to the Journal "At this time, we have not made plans to change our support structure in Minneapolis."

Joh. A. Benckiser, a German private equity group, bought Caribou for about $340 million in December, just months after acquiring Peet’s Coffee and Tea for $1 billion.

Last month, Caribou's CEO said the chain was no longer pursuing a partnership with J.C. Penney Co. to set up shops inside revamped stores.

Next Up

danny lee bettcher

Minnesota man who had 28 DWIs dies weeks after leaving prison

Danny Lee Bettcher is considered the most prolific drunken driver in Minnesota history.

coronavirus Wisconsin

Health leader calls Wisconsin's COVID-19 situation a 'nightmare scenario'

Wisconsin is reporting record numbers of cases, hospitalizations and deaths.

adam weeks

MN GOPers facing new claims they recruited legal pot candidates to run in swing races

Republicans have allegedly been encouraging people to run as legal marijuana candidates to take votes away from Democrats.

clayton brandt

Victim of car crash identified as Lake City firefighter

Lake City firefighter Clayton Brandt died after a single-vehicle crash early Tuesday.

hy-vee sterile carts

Hy-Vee starts using automated system to disinfect shopping carts

By mid-November, more than 200 Hy-Vee stores will have this system in place.

Danielle Hunter, Everson Griffen

Vikings will face Everson Griffen twice after trade to Lions

The former Vikings star was traded to Detroit for a fifth-round pick.

Jordana Green

WCCO Radio's Jordana Green diagnosed with leukemia

"I got this," Green wrote on her Facebook page.

CrispAndGreenPhoto

Minnesota-based Crisp & Green adds 20 locations in four states

The four-year-old local business says it's going national

victoria burrow pizza

Fair-inspired entertainment venue opening at Mall of America

Fair on 4 will feature axe throwing, go carts and more.

cheers-2636510_1280

Canceled: The Halloween bar crawl that no bars knew about

The dubiously organized event was planned for this weekend in Minneapolis.

covid saliva test

St. Cloud gets Minnesota's 6th COVID-19 saliva testing site

Four more sites are expected to open in the Twin Cities in the coming weeks.

Related

Is Caribou teaming up with J.C. Penney?

An official partnership hasn't been announced, but a secret store concept store may indicate there's a future deal between Brooklyn Center-based Caribou Coffee and J.C. Penny. The Dallas Business Journal reports several hundred analysts and investors got a glimpse at how J.C. Penny CEO Ron Johnson wants to transform the Dallas-based retail chain. The prototype included a coffee shop featuring Caribou Coffee.

Caribou Coffee hires new executive

The Brooklyn Center-based coffee retail chain has named Leigh Anne Snider as senior vice president of retail operations. She joins Caribou Coffee from YUM! Brands, where she was the first woman promoted to a chief operating officer position with the Kentucky-based company.