JM Smucker has increased its sales by 1% for the second quarter of its fiscal full year 2017/18 results.
The company saw its net sales reach $1.92 billion, an increase increase of $9.7 million from $1.91 billion experienced during the same period last year.
The firm also saw gross profit increase 2% to 331 million, up $12.1 million on the previous quarters total of $303 million, which the company has said is because of higher pricing and costs attributed to the oils and baking categories.
Net sales in the US for the company’s retail consumer foods decreased by $25.8 million to a total of $531.5 million, while the company experienced growth in international markets as sales increased by $13.5 million to reach $287 million experienced in the same period last year. The company has said that this has been driven by Jif and Smucker’s brands.
Mark Smucker, chief executive officer, said: “We are pleased with our second quarter results, primarily driven by our pet food business and the strong performance of a number of key brands across all our businesses.
“This included increases for Dunkin’ Donuts coffee, and Jif peanut butter. We also experienced continued strong growth of our brands in e-commerce, as sales in this channel doubled in the quarter for our US retail segments. We are confident in the ability of our brands to win in the rapidly changing retail environment.
“In addition, we remain focused on achieving sustainable cost reductions that support both the bottom line and fuel investments in future growth.”
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