JDE Peet’s posts modest 2023 sales rise amid inflation and geopolitical headwinds

Robust European sales and a strong performance from its Peet’s Coffee business offset the impact of high inflation, falling Asia Pacific revenues and the reorganisation of its operations in Russia

23 February 2024

2 min read

Peet’s Coffee posted 1% sales growth in 2023 to reach €1.1bn ($1.2bn) | Photo credit: Peet’s Coffee

Robust European sales and a strong performance from its Peet’s Coffee business offset the impact of high inflation, falling Asia Pacific revenues and the reorganisation of its operations in Russia

JDE Peet’s has reported modest group sales growth last year driven by stronger revenues in Europe and its US-based Peet’s Coffee business, but saw its margins squeezed due to high inflation and the reorganisation of its operations in Russia.