Green Mountain Net Falls 78 Percent in First Quarter

Keurig brewers boosted Green Mountain salesKeurig brewers boosted Green Mountain sales

WATERBURY, Vt.--Net income for Green Mountain Coffee Roasters, parent company of the Keurig brand, dropped 78 percent to $2.2 million in its fiscal first quarter, which ended on Dec. 25, 2010.

The decline reflected charges and credits related to Green Mountain's acquisition of Van Houtte, a Canada-based coffee manufacturer; without those charges, the company's net jumped 73 percent to $15.1 million. In addition, gross margin fell 258 basis points to 25.1 percent. Selling, operating, general and administrative expenses rose 59 percent on a dollar basis, but decreased 110 basis points as a percentage of sales to 21.1 percent.

In terms of net sales, major gains in Keurig brewers and K-Cup portion packs propelled Green Mountain to a strong first quarter. The company posted a 67 percent increase in net sales in the quarter to $575 million. About 91 percent of the sales total resulted from Keurig products. Sales of K-Cups increased 89 percent in the quarter, while brewer sales rose 58 percent.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Adriana Hoyos Relaunches Brand at High Point Market

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.