USA: Green Mountain Coffee sees net income up 9.3% in Q2
Waterbury, Vermont-based specialty coffee producer Green Mountain Coffee (GMC) yesterday [Thursday] reported sales and earnings for its twelve-week Q2, ended 13 April 2002. Total coffee pounds shipped for the quarter increased 8.7% to 3,166,000 pounds in the Q2, compared to 2,913,000 pounds in the prior year. Net sales increased 1.2% year-over-year to US$23m compared to US$22.7m. The difference between coffee pounds growth and dollar sales growth was due primarily to changes in sales mix, said GMC, driven by the continued successful expansion of business with Exxon Mobil Corporation convenience stores (ExxonMobil). The sales agreement with ExxonMobil, effective since February 2001, provides for lower coffee sales prices and a reduction in its direct purchases of accessories such as cups and lids, offset by lower delivery and ordering costs for GMC.
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