GMCR reports $1.3 billion in sales in first quarter of 2013

Green Mountain Coffee Roasters (GMCR) reported US$1.34 billion in net sales for the first quarter of fiscal 2013, in its financial report released on 6 February.  Keurig Single Cup Brewers, single serve pack, and related accessories continue to drive sales growth, accounting for approximately 93 per cent of consolidated sales for the quarter. Other products and royalties were reported to have declined 12 per cent year-on-year “primarily due to the demand shift from traditional coffee package formats to single serve pack”, the company said in a statement.   Working with its licensed brewing partners, GMCR said that a total of 4.95 million Keurig branded brewers were sold during the quarter, an 18 per cent increase over the corresponding period a year prior. The sale of brewing systems accounted for US$377.3 million, a 14 per cent increase over a year ago.  Sales of single serve packs accounted for US$863.7 million, a 21 per cent jump over the same quarter a year ago.  “The Keurig Single Cup brewing system is a powerful breakthrough for the beverage business, with significant untapped potential in the United States and globally,” Brian P Kelley, GMCR's President and CEO, said in a statement. “With a robust innovation pipeline and a growing awareness and commitment to the Keurig brand, GMCR is well positioned to continued to lead this disruptive shift in consumer behaviour.”