Caribou's Islamic Shari'ah business plan

Apparently the Islamic Shari'ah Law business plan is not working out so well for Minneapolis-based and Bahrain-connected Caribou Coffee, as reported by the Red Star: "Caribou stock is roasted after company predicts loss".

Shares of Caribou Coffee Co. fell 21.6 percent Wednesday, after the Minneapolis-based chain said it will lose money this year.

Making its first annual profit forecast since going public last year, Caribou said it expects to lose $2 million to $3.8 million -- 10 to 20 cents a share. Analysts had expected a slight profit for the year of a penny a share.

A previous Rambix post traces the lineage of Caribou Coffee to Bahrain, noting that the company "operates its business according to the Islamic principles known as Shari'ah". We note that another more well known organization operates by the same principles: The Taliban. It hasn't worked out so well for them, either.

Other Rambix posts on Caribou:

Caribou coffee and Islamic Sharia law from 8/10/05.

Caribou Coffee and Islamic Sharia law from 10/14/05.