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EXCEL - IDEA: XBRL DOCUMENT - Caribou Coffee Company, Inc.Financial_Report.xls
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v2.4.0.6
Segment Reporting
9 Months Ended
Sep. 30, 2012
Segment Reporting [Abstract]  
Segment Reporting

14. Segment Reporting

Segment information is prepared on the same basis that the Company’s management reviews financial information for decision making purposes. The Company has three reportable operating segments: retail coffeehouses, commercial and franchise. “Unallocated corporate” includes expenses pertaining to corporate administrative functions that support the operating segments but are not specifically attributable to or managed by any segment and are not included in the reported financial results of the operating segments. All of the segment sales are from external customers.

Retail Coffeehouses

The Company’s retail segment represented 79.0% and 72.1% of total net sales for first thirteen weeks of 2012 and 2011, respectively and 76.5% and 75.4% of total net sales for the thirty-nine weeks of 2012 and 2011, respectively. The coffeehouses offer customers high-quality premium coffee and espresso-based beverages, food, and also offer specialty teas, whole bean coffee, branded merchandise and related products. The retail segment operated 408 company-owned coffeehouses located in 16 states and the District of Columbia, as of September 30, 2012. The openings and closings of company-owned coffeehouses for the periods presented were as follows:

 

                                 
    Thirteen Weeks Ended     Thirty-Nine Weeks Ended  
    September 30,
2012
    October 2,
2011
    September 30,
2012
    October 2,
2011
 

Company-owned coffeehouses open at the beginning of period

    408       407       412       410  

New company-owned coffeehouses opened during the period

    6       3       7       3  

Company-owned coffeehouses closed during the period

    6       1       11       4  
   

 

 

   

 

 

   

 

 

   

 

 

 

Company-owned coffeehouses open at the end of the period

    408       409       408       409  
   

 

 

   

 

 

   

 

 

   

 

 

 

Commercial

The Company’s commercial segment represented 15.4% and 24.3% of total net sales for first thirteen weeks of 2012 and 2011, respectively and 18.8% and 20.6% of total net sales for the first thirty-nine weeks of 2012 and 2011, respectively. The commercial segment sells high-quality premium whole and ground coffee to grocery stores, mass merchandisers, club stores, office coffee and foodservice providers, hotels, entertainment venues, on-line customers.

Franchise

The Company’s franchise segment represented 5.6% and 3.7% of total net sales for first thirteen weeks of 2012 and 2011, respectively and 4.7% and 4.0% of total net sales for the first thirty-nine weeks of 2012 and 2011, respectively. The franchise segment sells franchises to operate Caribou Coffee brand coffeehouses to domestic and international franchisees. As of September 30, 2012, there were 202 franchised coffeehouses in U.S and international markets. The openings and closings of franchise-owned coffeehouses for the periods presented were as follows:

 

                                 
    Thirteen Weeks Ended     Thirty-Nine Weeks Ended  
    September 30,
2012
    October 2,
2011
    September 30,
2012
    October 2,
2011
 

Franchised coffeehouses open at the beginning of period

    188       147       169       131  

New franchised coffeehouses opened during the period

    14       5       39       26  

Franchised coffeehouses closed during the period

    0       2       6       7  
   

 

 

   

 

 

   

 

 

   

 

 

 

Franchised coffeehouses open at the end of the period

    202       150       202       150  
   

 

 

   

 

 

   

 

 

   

 

 

 

The tables below present information by operating segment for the thirteen and thirty-nine weeks ended September 30, 2012 and October 2, 2011 (in thousands):

Thirteen weeks ended September 30, 2012

 

                                         
    Retail
Coffeehouses
    Commercial     Franchise     Unallocated
Corporate
    Total  

Total net sales

  $ 61,032     $ 11,880     $ 4,330     $ —       $ 77,242  

Costs of sales and related occupancy costs

    26,101       8,510       2,599       —         37,210  

Operating expenses

    24,909       1,161       485       —         26,555  

Depreciation and amortization

    2,522       22       3       —         2,547  

General and administrative expenses

    2,146       —         —         6,015       8,161  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating income (loss)

  $ 5,354     $ 2,187     $ 1,243     $ (6,015   $ 2,769  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable assets

  $ 27,875     $ 461     $ 26     $ 8,337     $ 36,699  

Capital expenditures

  $ 3,354     $ 15     $ —       $ 885     $ 4,254  

Thirteen weeks ended October 2, 2011

 

                                         
    Retail
Coffeehouses
    Commercial     Franchise     Unallocated
Corporate
    Total  

Total net sales

  $ 58,695     $ 19,758     $ 2,986     $ —       $ 81,439  

Costs of sales and related occupancy costs

    25,831       14,365       1,745       —         41,941  

Operating expenses

    24,473       1,521       297       —         26,291  

Depreciation and amortization

    2,631       34       4       —         2,669  

General and administrative expenses

    2,345       —         —         5,418       7,763  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating (loss) income

  $ 3,415     $ 3,838     $ 940     $ (5,418   $ 2,775  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable assets

  $ 27,645     $ 886     $ 38     $ 8,874     $ 37,443  

Capital expenditures

  $ 2,218     $ 107     $ —       $ 499     $ 2,824  

Thirty-nine weeks ended September 30, 2012

 

                                         
    Retail
Coffeehouses
    Commercial     Franchise     Unallocated
Corporate
    Total  

Total net sales

  $ 182,777     $ 44,862     $ 11,269     $ —       $ 238,908  

Costs of sales and related occupancy costs

    78,957       33,504       6,610       —         119,071  

Operating expenses

    74,994       3,389       1,152       —         79,535  

Depreciation and amortization

    7,434       76       9       —         7,519  

General and administrative expenses

    6,394       —         —         16,615       23,009  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating income (loss)

  $ 14,998     $ 7,893     $ 3,498     $ (16,615   $ 9,774  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable assets

  $ 27,875     $ 461     $ 26     $ 8,337     $ 36,699  

Capital expenditures

  $ 7,129     $ 52     $ —       $ 1,693     $ 8,874  

Thirty-nine weeks ended October 2, 2011

 

                                         
    Retail
Coffeehouses
    Commercial     Franchise     Unallocated
Corporate
    Total  

Total net sales

  $ 176,338     $ 48,243     $ 9,403     $ —       $ 233,984  

Costs of sales and related occupancy costs

    75,029       32,688       5,383       —         113,100  

Operating expenses

    73,543       4,264       705       —         78,512  

Depreciation and amortization

    8,267       94       12       —         8,373  

General and administrative expenses

    6,874       —         —         16,829       23,703  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating (loss) income

  $ 12,625     $ 11,197     $ 3,303     $ (16,829   $ 10,296  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable assets

  $ 27,645     $ 886     $ 38     $ 8,874     $ 37,443  

Capital expenditures

  $ 3,724     $ 227     $ —       $ 2,299     $ 6,250  

All of the Company’s assets are located in the United States, and approximately 2.1% of the Company’s consolidated sales come from outside the United States.