Beam Sales Rise 8% To $2.3 Billion In Full-Year 2011February 3, 2012
Beam Inc., reporting its first yearly results since it began trading as a stand-alone entity apart from the former Fortune Brands conglomerate last fall, said comparable net sales rose 8% to $2.3 billion in 2011. For the recently completed fourth quarter, Beam’s comparable net sales were up 4% to $638 million. Net income nearly doubled to $917 million for the year.
Beam’s strong results were driven by solid performances from Jim Beam (comparable net sales up 7% for the year), Maker’s Mark (+14%), Courvoisier (+19%), Canadian Club (+5%) and Teacher’s (+13%), as well as double-digit gains for smaller brands Knob Creek, Basil Hayden’s, Laphroaig, Effen and Sourz. A nearly 500% net sales jump by Skinnygirl cocktails, whose depletions reached 586,000 cases on a 294% rise, according to Impact Databank, also provided a formidable growth engine.
“We’ve built our brand investment to competitive levels, focusing on our biggest brand initiatives in our best markets, and we have a robust new-product pipeline,” said Beam president and CEO Matt Shattock. “In 2012, we’re primed to solidly outperform our markets at the top line. We’re off to a strong start, with our prospects enhanced by upcoming innovations, some of which will favorably impact Q1 results,” he added.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.