ORRVILLE, Ohio, Aug. 27, 2015 /PRNewswire/ -- The J. M. Smucker Company today announced results for the first quarter ended July 31, 2015, of its 2016 fiscal year. All comparisons are to the first quarter of the prior fiscal year, unless otherwise noted.
Net sales increased, reflecting the contribution of $561.3 million from Big Heart. Excluding acquisitions and foreign currency exchange, net sales increased $73.6 million, or 6 percent. This was driven by favorable volume/mix led by the launch of Dunkin' Donuts® K-Cup® pods during the quarter. Net price realization was 1 percentage point higher, as the impact of higher coffee net price realization was partially offset by lower net pricing for peanut butter.
U.S. Retail Coffee
The net sales increase of $62.3 million was mostly driven by the introduction of Dunkin' Donuts® K-Cup® pods during the quarter. The Folgers® brand also contributed to net sales growth as higher net price realization, attributed to reduced promotional activities and the net benefit of pricing actions taken since the beginning of fiscal 2015, more than offset lower volume. Segment profit increased $17.5 million, reflecting higher net price realization, which more than offset higher green coffee costs. Dunkin' Donuts® K-Cup® pods also contributed to profit growth. Full report.
