Roseville Company Reports Downward Trend in Organic Coffee Sales

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(Sacramento, CA)
Monday, December 27, 2004
Peabodys Coffee in Roseville is trying to develop a niche as a wholesaler of organic coffee to grocers and other customers, under the brand Black Rhino. But red is the color of the day … as Peabody’s reported falling sales and a bottom line loss in the third quarter. Net revenue was just over $250,000 … down from $460,000 a year ago. The reported loss of $166,000 for the quarter is less than last year’s loss. The company’s Black Rhino coffee is on supermarket shelves in several Eastern states, but it closed its retail sales kiosks and two retail stores, which affected revenues. The company’s auditors continue to question the ability of Peabody’s to continue as a going concern.