Peet's Introduces Light Freddo - Analyst Blog
07 Juillet 2011 - 1:45PM
Zacks
The coffee roaster and retailer Peet’s Coffee & Tea
Inc. (PEET) has launched a new blended iced coffee
beverage called - Light Freddo.
As the name says, the new Light Freddos of Peet’s will have 50%
lower calories than the regular Freddos. Despite that, Peet’s did
not compromise on the richness, creaminess and smoothness of
Freddos for which the Freddos are popular. Moreover, the new
version offers the same taste and coffee flavor of the regular
Freddos.
Further, the rates for Peet’s medium Light and Regular Freddos
will only be for $3 each on the days of July 8, 15, 22, and 29.
Also, they are made of the highest-quality ingredients and
craftsmanship and are available at all Peet’s retail locations.
In addition, Peet’s will continue to have its summer Freddo
Friday tradition throughout the month of July in all Peet’s
locations, excluding licensed partners.
Peet's reported its first quarter 2011 diluted earnings per
share of 41 cents, up 58% from the prior year quarter of 26 cents.
It also surpassed the Zacks Consensus Estimate of 34 cents by
20.58%.
However, Peet’s lowered its full-year 2011 diluted earnings per
share guidance by 10 cents to the range of $1.43 to $1.50 range on
the back of a significant rise in cost of coffee during the last
three months.
We are encouraged by the premium coffee industry’s strong growth
over the past decade and the fact that Peet’s is targeting the
growing consumer demand for the coffee comes as a further fillip.
The company’s two competitive advantages are its quality and the
variety and Peet’s vertically integrated business model that allows
it to control the quality of coffee at all stages.
However, the company faces fierce competition especially in the
specialty coffee category. Major peers for the company include
Coca-Cola Enterprises Inc. (CCE) and
Starbucks Corporation (SBUX).
We currently have a Zacks #2 Rank for Peet’s, which translates
into a Buy rating on a short-term basis. On a longer term, we have
a Neutral recommendation.
COCA-COLA ENTRP (CCE): Free Stock Analysis Report
PEETS COFFE&TEA (PEET): Free Stock Analysis Report
STARBUCKS CORP (SBUX): Free Stock Analysis Report
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