ORRVILLE, OHIO – The J.M. Smucker Co.’s US Retail Coffee business is benefiting from more people working from home and shifting their coffee drinking habits to more at-home occasions. Sales across most of the platform have continued to rise even as COVID-19 restrictions have eased nationwide.
The business unit, the company’s second largest behind pet food, had net sales of $645 million during the third quarter of fiscal 2020, ended Oct. 31, up 8% from the same period of the previous year. Segment profit rose 3% to $208 million.
Business unit net sales increased $50.4 million during the quarter and volume/mix contributed 5 percentage points of growth, driven by the Dunkin’ and Café Bustelo brands. Net price realization increased net sales by 3 percentage points, primarily reflecting list price increases and trade spend reductions for roast and ground products, according to the company.
“In coffee, net sales growth of 8% was driven by all brands in our market-leading at-home…
