Delivering Affordable Luxury

When Michael Tattersfield took the helm of Caribou Coffee in late 2008, the No. 2 coffeehouse company was struggling. Its stock was teetering toward $1, and the coffeehouse company hadn’t made a profit since it went public in 2005.

“We had a simple goal of making $1 in 2009,” he says, “and we made $5 million.” A year later, Caribou doubled that number, and in August the 541-unit chain reported a 4.6% same-store sales increase for the second quarter.