USA: Green Mountain Coffee sees Q3 growth lead by supermarket channel
Specialty coffee company Green Mountain Coffee (GMC) has reported net sales of US$22.98m for its Q3 ended 6 July, up 7.2% from US$21.44m year on year. Total coffee pounds shipped during the Q3 increased 5.8% to 3,105,000 compared to 2,935,000 pounds for the Q3 2001. GMC delivered its strongest growth for the quarter in the supermarket channel, where coffee pounds shipped increased 18.7% due primarily to year-over-year expansion of sales to two customers. Following two fiscal quarters of year-over-year declines in sales of Keurig K-Cups, there was slight improvement in the Q3 with a 1.1% increase in sales. The convenience store channel grew 1.5%. Usually a steady growth contributor, comparisons were impacted by high prior year Q3 shipments related to the initial inventory build by McLane Co, the distributor for Exxon Mobil Corporation convenience stores.
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