Cuervo’s Sales Skyrocket In Third Quarter, Soaring 48% To $500 Million
October 23, 2020Robust trends in the Tequila and RTD cocktail categories helped catapult Cuervo’s third quarter net sales to a half-billion dollars on a 48% increase. Volume leapt 26% to 6.6 million 9-liter cases, and operating income surged 169% to $147 million.
North America, accounting for about 72% of net sales, was the key growth driver for the company, with the region posting 79% sales growth to $360 million on volume gains of 51% to 4.4 million cases. Cuervo credited the U.S. surge to “the strength of our largest brands within the region leading an acceleration in depletions and shipments, and the Mexican peso depreciation against the U.S. dollar on a year-over-year comparison.”
Flagship brand Jose Cuervo Tequila saw global net sales climb 62% to $198 million in the third quarter on volume up 28% to 2.3 million cases. The company also saw rapid growth for its other Tequila labels—up a collective 47% to $133 million—and its RTD offerings, which jumped 144% to $66 million.—Daniel Marsteller
| Proximo Spirits—Top Ten Brands in Control States, Year-to-Date (thousands of mixed case depletions) |
|||||
| Rank | Brand | Type | 2019 | 2020 | Percent Change |
|---|---|---|---|---|---|
| 1 | Jose Cuervo | Tequila | 472,869 | 598,727 | 26.6% |
| 2 | Jose Cuervo Margaritas | Pre-Mixed Cocktail | 188,471 | 255,773 | 35.7% |
| 3 | 1800 | Tequila | 194,521 | 254,872 | 31.0% |
| 4 | Three Olives | Vodka | 106,098 | 97,265 | -8.3% |
| 5 | 1800 Ultimate Margarita | Pre-Mixed Cocktail | 61,462 | 93,327 | 51.8% |
| 6 | Pendleton | Canadian Whisky | 72,885 | 82,174 | 12.7% |
| 7 | The Kraken | Spiced Rum | 51,348 | 62,155 | 21.0% |
| 8 | Bushmills | Irish Whiskey | 25,108 | 24,936 | -0.7% |
| 9 | Proper No. Twelve | Irish Whiskey | 15,158 | 20,398 | 34.6% |
| 10 | Tin Cup | American Whiskey | 10,826 | 12,085 | 11.6% |
| Total Top Ten | 1,198,746 | 1,501,712 | 25.3% | ||
| Other Proximo Brands | 26,230 | 30,823 | 17.5% | ||
| Total Proximo Spirits | 1,224,976 | 1,532,535 | 25.1% | ||
| Sources: NABCA and IMPACT DATABANK © 2020 | |||||
Tagged : Proximo
