Ste. Michelle Posts 5% Sales Growth In First HalfJuly 23, 2014
Ste. Michelle Wine Estates enjoyed a 5% net revenue increase to $275 million in the first half of 2014, even as volumes registered just a 1.5% growth rate. Parent company Altria Group credited the sales jump to higher pricing and increased shipments. On a volume basis, flagship brand Chateau Ste. Michelle saw shipments rise 10% to 1.3 million cases in the first half, while Impact “Hot Brand” 14 Hands continued its strong run, leaping 16% to 757,000 cases.
Other brands in the Ste. Michelle portfolio didn’t fare as well—particularly Columbia Crest, whose shipments declined 16% to 378,000 cases. That figure excludes Columbia Crest offshoot Two Vines, which is now being categorized separately by the company. Two Vines and the rest of the Washington wine group’s stable posted a combined 7.7% decrease to 1.2 million cases in the six months through June.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.