Keurig Green Mountain has exceeding its growth target, reporting US$1 billion in net sales for the third quarter of the fiscal year.
“We’re very pleased to be in a position to return significant cash to shareholders through both dividends and meaningful share repurchases while at the same time investing in our robust innovation pipeline,” said Frances G. Rathke, Keurig’s Chief Financial Officer, in a statement. Keurig reported an increase of US$55.3 million in net sales compared to the same period a year ago The company says that the primary driver of the 6 per cent increase was a 10 per cent increase in total single-serve sales, up by US$74 million. This profit was partially offset by a US$5.1 million, or 4 per cent, decrease in Keurig brewer and accessory net sales. Keurig sold 1.7 million system brewers in the 13 week period. The company also reported a US$14.2 million, or 17 per cent, decrease in other product net sales.