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 News(Editor’s note: This is the final part of an Associated Press series of profiles on candidates... Full Story
- Most Popular
- Most Emailed
- Pittsford Haunted House
- RICHARD'S POOR ALMANACK: On this day in 1720, 'Calico Jack' Rackham, Caribbean pirate and early feminist, known for recruiting women to his crew and for fabric decorating skills after creating 'Jolly Roger' flag, is captured by the British Royal Navy.
- TOMORROW'S HEADLINES TODAY: Vermont has a new state Supreme Court Justice; city hospital says it can save plenty by upgrading its lights and trucking in natural gas; Springfield has a new town manager, former West Rutland guy, Tom Yennerall.
- RICHARD'S POOR ALMANACK: On this day in 1307, King Phillip the Fair of France orders hundreds of Knights Templar rounded up and arrested, charged with heresy, tortured until they confess; on this day in 1917, thousands see miracle of Our Lady of Fatima.
- TOMORROW'S HEADLINES TODAY: Solarfest likely to be on hold until at least 2016, Great Dane involved in theft of an $89,000 shotgun leads police to the thieves, PSB will not reopen VGS pipeline case, prosecutors want evidence in body-packing drug case.
- RICHARD'S POOR ALMANACK: On this day in 1871, After long summer drought comes simultaneous devastating upper Midwest wildfires; Chicago city center in ruins; in 1967, after brief firefight, Ernesto 'Che' Guevara captured alive in Bolivian jungle camp.