A dismal economy and a stiff challenge from the world’s largest restaurant chain threatened to flush the burgeoning coffeehouse industry down the drain like a day-old cup of joe.
But after seeing its stock price plunge by more than 80 percent, Minneapolis-based Caribou Coffee has enjoyed a robust rebound that has more than tripled its stock since April. Starbucks, the Seattle-based industry leader, has had a similar rollercoaster run, dropping about 75 percent to about $7 a share before rebounding to its recent price of about $20.
The premium coffeehouse industry, which at one time was one of the fastest growing segments of the consumer sector, has suffered from increased competition and market saturation. Read more.
