TC Global, Inc (TULLY’S) Announces Fiscal 2010 Financial Results
June 28, 2010
Seattle, Wash., (June 28, 2010) – TC Global, Inc., dba Tully’s Coffee (Tully’s), a leading specialty coffee retailer, today reported a 46.0% improvement in net loss from continuing operations to a loss from continuing operations of $6,143,000 for the annual period ended March 28, 2010 (“Fiscal 2010”), as compared to a net loss from continuing operations of $11,374,000 for the comparable period ended March 29, 2009 (“Fiscal 2009”).
During Fiscal 2010, Tully's expanded by 18 store locations to 185 U.S. Tully’s stores (78 company-operated and 107 franchised and licensed) compared to 167 U.S. stores at March 29, 2009.
“We continue to improve our retail operations and sales trends, and foresee continued improvements in the upcoming fiscal year, including expanded domestic and international store growth.” said Carl Pennington, President and CEO of TC Global, Inc.
Additional information about Fiscal 2010 results is contained in Tully’s Annual Report on Form 10-Q that was filed with the U.S. Securities and Exchange Commission today.
ABOUT TC GLOBAL, INC.:
TC Global, Inc., dba Tully’s Coffee, is a leading specialty coffee retailer and wholesaler. Through company owned, licensed and franchised specialty retail stores in Washington, Oregon, California, Arizona, Idaho, Montana, Colorado, Wyoming and Utah, throughout Asia with Tully’s Coffee International, and with its global alliance partner Tully’s Coffee Japan, Tully’s premium coffees are available at more than 600 branded retail locations globally, including more than 200 in the United States. TC Global also has the rights to distribute Tully’s coffee through all wholesale channels internationally, outside of North America, the Caribbean and Japan. TC Global’s corporate headquarters is located at 3100 Airport Way S, in Seattle, WA. For more information: (800) MY-TULLY or TullysCoffeeShops.com.