WATERBURY — Green Mountain Coffee Roasters Inc. has reported positive first-quarter results.
The Waterbury-based company said Wednesday its net sales were $1.3 billion for a 13-week period ending Dec. 29, up from $1.158 billion for the same quarter the previous year.
“Our strong first-quarter performance underscores the connection consumers have to their Keurig brewers; the soundness of our business model; and the value inherent in our brand portfolio,” said Brian P. Kelley, GMCR’s president and CEO, in a statement.
Single-serve portion packets made up the bulk of sales, amounting to $863.7 million worth of product, a 21 percent increase from the same period the previous year. Sales of brewers and accessories totaled $377.3 million, an increase of 14 percent. Other products and royalties decreased by 12 percent to $98.1 million.
The number of brewers sold was 4.95 million, an increase of 18 percent over the prior year period, but that amount doesn’t include returns.
Kelley, a former Coca-Cola executive who started at the end of last year, said there is untapped potential for the Keurig single-serve brand in the U.S. and globally. The company has formed an international business unit.
“We are in the early days of a marked evolution in how consumers purchase, prepare and customize hot beverages in their homes,” Kelley said in the statement.MORE IN Vermont NewsA confidential memo obtained by Vermont Public Radio shows that the Agency of Education is still... Full Story
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