Caribou Nearing 500 Stores

ATLANTA-Caribou Coffee Co. should reach the 500-unit mark this year if the chain is able to open the projected 105 to 120 locations it has on tap, said Michael Coles, the company’s chairman, chief executive officer and president, here at the Sun Trust Robinson Humphrey Institutional Conference. The Minneapolis-based coffeehouse outfit, which currently operates 402 stores, has a long-term goal of 2,500.

Of course, as Caribou grows, a very large competitor in Starbucks looms, with its close to 8,000 domestic units. “You do have to find a way to differentiate yourself,” Coles admits.

Caribou does this, in part, with its physical stores that are designed in a lodge style, with wood and stone finishing. Units also have children’s areas and wireless Internet connections.