Ste. Michelle Posts 8% Sales Growth In First Three QuartersOctober 27, 2016
Ste. Michelle Wine Estates saw its revenues rise by 8% to nearly $500 million during the first nine months of 2016, driven by the growth of its core premium brands, which include Chateau Ste. Michelle and 14 Hands, among others. Ste. Michelle’s shipment volume grew 6% to 6.2 million cases during the period, while adjusted operating income rose 6% to $103 million. In recent days, Ste. Michelle president and CEO Ted Baseler told SND that the company is planning a “significant expansion” of its flagship Chateau Ste. Michelle winery for next year, coinciding with the winery’s 50th anniversary. —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.