Diedrich Coffee Loses $1 a Share
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IRVINE — Diedrich Coffee Inc. reported a net loss of $5.4 million, or $1 a share, for the first quarter ended April 30, which included a onetime charge of $4.6 million from restructuring costs and store closings. A year ago, the operator of coffeehouses posted net income of $107,113. Sales advanced 37% to $5.9 million from $4.3 million.
The company closed three coffeehouses during the first quarter and plans to close 12 under-performing outlets during fiscal 1998. Thirty-six coffeehouses will remain open.
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