JAB Holdings controlled-company reports 4.2% sales growth, fuelled by strong at-home and e-commerce sales
At-home coffee and e-commerce fuels JDE Peet’s half-year sales growth | Photo credit: Peet's Coffee
Reporting its half-year financial results for the six months to 30 June 2021, JDE Peet’s said sales grew 4.2% to €3.3bn ($3.9bn), compared with the same period in 2020.
The results were largely supported by growth in retail coffee products of 4.9%. Meanwhile, e-commerce sales rose 30% over the period.
However, JDE Peet’s out-of-home channels which include its Peet’s Coffee shop business and B2B product sales to hospitality operators are still recovering from significant pandemic disruption.
Peet’s reported a 2.8% sales decline to €422m ($500m) compared to the same period in 2020, however like-for-like sales grew 24% over the period, as “consumption patterns started to gradually shift back to the coffee stores.”
Meanwhile, out-of-home sales increased 0.5% to €320m ($379m) in the period with JDE Peet’s reporting ongoing pandemic disruption in most of its markets globally.
“Based on the progress made in the first half of 2021 and our current expectations for the remainder of the year, we remain confident to reach our outlook for the year, being intentional on managing inflation and navigating the enduring uncertainty of the pandemic," said Fabien Simon, CEO of JDE Peet’s.
JDE Peet’s, which promotes that it sold approximately 4,500 cups of coffee or tea every second in 2020, recently partnered with UK coffee and food-to-go chain Pret A Manger to expand the latter's at-home offer with a range of coffee pods.
In June 2021, JDE Peet’s acquired Australian specialty roaster, Campos Coffee, giving the Netherlands-headquartered coffee group a firmer foothold in Australia’s estimated AU$1bn ($780m) coffee market.