Green Mountain (GMCR) Plans to Keep Hot K-Cup Market Bubbling in FY13
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Green Mountain Coffee Roasters (Nasdaq: GMCR) still believes in the K-Cup.
Presenting at an industry conference in San Francisco today, Scott McCreary, President of the Specialty Coffee unit at Green Mountain, said the K-Cup was driving coffee consumption in the U.S.
McCreary noted that 10 million to 12 million households in the U.S. had a Keurig brewer, with that number expected to grow by another 2 million in 2013. Keurig is also the leading single-serve coffee sold at U.S. hotels, he noted.
Green Mountain will continue to target customers both in and out of the home. Plans also call for expansion of the Keurig K-Cup brewer line. Last year, Green Mountain debuted the Vue brewer, which allowed for a wider variety of adjustments versus previous models.
The company is currently working with, but butting up against, coffee giant Starbucks (Nasdaq: SBUX). Last year, Starbucks debuted its new Verismo brewer, which used different cartridges than K-Cups.
Green Mountain appears to be retaining the first-mover advantage with total sales of $3.86 billion in its fiscal 2012 reporting year coming in 46 percent better over the prior year.
Shares are up 0.2 percent Friday.
Presenting at an industry conference in San Francisco today, Scott McCreary, President of the Specialty Coffee unit at Green Mountain, said the K-Cup was driving coffee consumption in the U.S.
McCreary noted that 10 million to 12 million households in the U.S. had a Keurig brewer, with that number expected to grow by another 2 million in 2013. Keurig is also the leading single-serve coffee sold at U.S. hotels, he noted.
Green Mountain will continue to target customers both in and out of the home. Plans also call for expansion of the Keurig K-Cup brewer line. Last year, Green Mountain debuted the Vue brewer, which allowed for a wider variety of adjustments versus previous models.
The company is currently working with, but butting up against, coffee giant Starbucks (Nasdaq: SBUX). Last year, Starbucks debuted its new Verismo brewer, which used different cartridges than K-Cups.
Green Mountain appears to be retaining the first-mover advantage with total sales of $3.86 billion in its fiscal 2012 reporting year coming in 46 percent better over the prior year.
Shares are up 0.2 percent Friday.
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