Ste. Michelle Volume Up 4% In First HalfJuly 24, 2012
Ste. Michelle Wine Estates saw higher volume and higher prices result in an 11% jump in net revenue to $241 million over its fiscal first half, ended June 30. Ste. Michelle parent company Altria said “national expansion of select wines into off-premise channels, partially offset by changes in trade inventories” accounted for a 4.2% lift in Ste. Michelle’s volume to 3.26 million cases during the period.
Impact “Hot Brand” 14 Hands, which nearly doubled in volume to 785,000 cases last year, likely helped drive some of the increase, as portfoliomate Columbia Crest continued to slide, falling 14% to 753,000 cases in the first half. Ste. Michelle’s flagship label Chateau Ste. Michelle continued its strong performance over the first six months of the year, rising 3.9% to 1.16 million cases.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.