Diedrich Coffee Inc. posted a net loss of $3.2 million for the fourth quarter, compared to net loss of $1 million for the prior-year.
The direct marketer and retailer reported total revenue of $18,3 million for the quarter ended June 28, up 12.4%, from $16.3 million last year.
The Irvine, CA firm said that online sales increased by $295,000, or 49.5%, over last year.
As part of its plan to narrow the focus of its retail operations, the company said it plans to close its Diedrich Coffee and Coffee People company-owned locations but retain the brands for its wholesale and franchise operations.
This comes on the heels of its agreement to sell most of its 47 company-owned locations to Starbucks Coffee Co. for $13.5 million.
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