EMERYVILLE, Calif. - September 27, 2004 - Peet's Coffee & Tea, Inc. (NASDAQ: PEET), a specialty coffee roaster and marketer, today announced it opened four new stores this month. These stores are located in Southern California, in the communities of Laguna Niguel, Costa Mesa and Thousand Oaks, and in Northern California, in San Anselmo. In line with the company's growth plans, these new locations will allow Peet's to expand its distribution of distinctively fresh, whole bean coffee throughout the West Coast.
"Year-to-date, including these four stores, we have opened a total of twelve new stores," said Patrick O'Dea, president and chief executive officer, Peet's Coffee & Tea, Inc. "These new stores reinforce our strategy to open in communities where demand for Peet's distinctive offerings is high, and we will continue to do so at a controlled pace to ensure Peet's stringent quality commitment for both existing and new customers."
Peet's stores feature a broad selection of the finest and freshest whole bean coffees and hand-selected teas. Only Peet's coffees are deep-roasted in small batches by hand by skilled artisans who are committed to pursuing the highest-quality standards. To ensure ultimate freshness, all coffees are sent directly to the stores immediately after roasting to allow customers to enjoy Peet's distinctively rich, full-bodied flavor.
All Peet's stores feature a dedicated bean counter where knowledgeable staff, also known as "Peetniks," hand-scoop and individually bag the freshest beans to each customer's request. The company also offers a full-service beverage bar to allow customers to sample properly brewed Peet's beans and specialty teas, handcrafted and made fresh to each order, to be enjoyed at their absolute best.
ABOUT PEET'S COFFEE & TEA, INC.
Founded in Berkeley, Calif. in 1966, Peet's Coffee & Tea, Inc. is a specialty coffee roaster and marketer of fresh, deep-roasted whole bean coffee for home and office enjoyment. Peet's fresh-roasted coffee, hand-selected tea and related items are sold in several distribution channels including specialty grocery and gourmet food stores, online and mail order, office and restaurant accounts and its company-owned stores throughout the U.S. For information about Peet's Coffee & Tea, Inc. visit www.peets.com or call 1-800-999-2132.
This press release contains statements that are not based on historical fact and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the Company's expectations regarding store openings and availability of locations for sites in 2004 are "forward-looking statements." Because of the uncertainties inherent in these forward-looking statements, the Company's actual results could differ materially from those set forth in forward-looking statements. Actual future store openings depend on a variety of factors including but not limited to the completion of the development projects where the planned stores are to be located, the availability of high quality retail inventory for additional store locations, the Company's ability to identify appropriate locations for future stores and to obtain leases for such stores on satisfactory terms, and the Company's operations and financial results in general. Actual results and trends may differ materially depending on a variety of factors including but not limited to, its ability to implement its business strategy, attract and retain customers, and obtain and expand its market presence in new geographic regions, the availability and cost of high quality Arabica coffee beans, consumers tastes and preferences, and competition in our market as well as other risk factors as described more fully in the Company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 28, 2003.
Weber Shandwick for Peet's Coffee & Tea