Beam’s North American Sales Rise 12% In H1August 2, 2012
Beam Inc. saw its North American net sales increase by 12.3% to $684 million on a constant currency basis in the six months through June, representing its fiscal first half. The company said core Bourbon brands Jim Beam and Maker’s Mark as well as the Skinnygirl cocktail, wine and vodka franchise drove progress.
Globally, Beam’s net sales rose 3.2% to $1.13 billion at constant currency, while operating income increased 11% to $257 million. Jim Beam (+11%), Maker’s Mark (+29%), Sauza (+6%), Courvoisier (+21%), Skinnygirl (+81%), Pucker vodka (+17%), Kilbeggan Irish whiskey (+71%) and Basil Hayden Bourbon (+33%) all posted marked net sales growth in the first half. Of Beam’s key brands, only Canadian Club (-2%), Hornitos (-7%) and Effen (-14%) declined.
Beam CEO Matt Shattock said the company intends to “make stepped up investments in two key areas” looking ahead. “First, we’ll upweight marketing investment in the second half behind our most exciting brands and innovations; and second, we’re accelerating investment to lay down more aged spirits to support future worldwide demand for our Bourbon, Scotch and Cognac brands,” he said. Beam also plans to continue expanding distillation and warehouse capacity and said it will open a Kentucky-based “Global Innovation Center” in the fourth quarter to help buttress its new product activity.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.