A trifecta of bad news has sent coffee futures soaring 44 percent since June, and companies like Dunkin’ Donuts, Green Mountain and Maxwell House are passing on those costs. Bad weather in South America is threatening crops. Brazil and top exporter Vietnam are talking about hoarding their stocks. And U.S. stockpiles are reportedly at 10-year lows. Get the full story »
J.M. Smucker
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Smucker’s net up 5% in fiscal 1Q
J.M. Smucker Co.’s net income rose 5 percent in its fiscal first quarter on lower costs, though the company was squeezed by higher coffee bean prices and price competition on store shelves.
The maker of Jif peanut butter, Folgers coffee and other foods said Friday that it earned $102.9 million, or 86 cents per share, for the quarter. That’s up from $98.1 million, or 83 cents per share, a year earlier. Get the full story »
Price hiked on Dunkin’ Donuts, Folgers coffee
J.M. Smucker Co hiked the list price for most of its Folgers, Dunkin’ Donuts, Millstone and Folgers Gourmet Selections coffees sold in the U.S. retail market, effective immediately, the company said Tuesday.
Folgers is considered the trendsetter in coffee price changes and major U.S. roasters like Kraft, which owns Maxwell coffee, typically follow suit. Get the full story »
