Diedrich Coffee Losses Mount
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by Chief Marketer Staff
Diedrich Coffee Inc. posted a net loss of $13.8 million for fiscal 2008, compared to a net loss of $1.8 million in the prior year.
The online marketer and retailer reported revenue of $46.3 million for the year ended June 25, a 26.6% increase over revenue of $36.6 million last year.
The Irvine, CA firm said online sales increased $392,000, or 33.9%, compared to the prior year but retail sales decreased $554,000 for the year.
Management attributed these results to fewer company-operated stores and negative comparable store sales which it noted was offset by its online sales.
The company said its cost of sales was $34.7 million for the year, a 50.1%, increase over $23.1 million in the prior year.
