For the 13 weeks ended 4 July 2010, net revenue increased 10% to $80.8m from $73.6m for the corresponding period of fiscal 2009.
Net income for the quarter was $4.3m, or $0.31 per diluted share, compared to $3.4m, or $0.26 per diluted share, for the corresponding period last year.
“Overall, we had a good second quarter, consistent with our plan for the year,” said Patrick O’Dea, president and CEO. “Strong sales growth of the Peet’s brand in grocery and beverages in our retail stores drove our overall top-line performance. Operating profit grew 25% and operating margin expanded 110 basis points vs a year ago, as we leveraged the last several years of investments to flow more of our sales growth through to the bottom line.”
Source: Peet’s Coffee & Tea
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