Peabodys Coffee Inc., (OTCBB:PBDY) yesterday announced preliminary unaudited results for April 2001 indicating that a number of actions taken during the last year are proving successful.
Net sales for the month of April 2001 showed a 51.4 percent increase over April from the prior year, to $280,000 from $185,000. The sales increase was achieved with the same number of operating kiosks – although a number had been relocated to stronger locations as part of the company’s organic growth program. Along with the increase in sales, year to year losses for the month of April decreased from $50,000 to $1,600.
Go deeper with GlobalData
Cliff Young, Peabodys newly appointed CEO, commented “As with most new ventures, results like these take time. We are delighted with this progress and the potential for further growth immediately ahead of us. It strongly reaffirms my decision to join Peabodys.”
“Obviously this is a huge improvement – it was our first month ever with positive cash flow,” commented Chairman Todd Tkachuk. “It’s also important to recognize that April is one of our stronger months due to the seasonality of our business from our university locations.”
Peabodys Coffee, Inc. is a specialty coffee retailer who owns and operates 21 specialty coffee carts, kiosks, and a retail store located throughout California and Northern Nevada. The company’s operating units are typically located in institutional settings such as universities, hospitals and corporate office buildings.
This release contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Readers should not place undue reliance on forward-looking statements, which reflect management’s view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
