Coffee City
Melissa Allison follows the world's biggest coffee-shop chain and other Seattle caffeine purveyors.
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Peet's Coffee & Tea profit climbs 12 percent
Posted by Melissa Allison
Net income rose to $3.4 million for the second quarter ended June 28 (what? a retailer with a fiscal year that matches the calendar year?).
Also bucking a trend, Peet's didn't do it by slashing overhead, which rose 12 percent to $6.1 million, "driven primarily by higher payroll related costs and timing of marketing expenses."
The chain's net revenue grew by 5 percent to $73.6 million.
Copyright © 2009 The Seattle Times Company
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