Ste. Michelle Wine Estates Posts 8% Sales Growth For 2016February 1, 2017
Washington state-based Ste. Michelle Wine Estates has posted a solid set of results for its full fiscal 2016, with net revenues up 7.8% to $746 million. The company’s shipment volume rose 5.3% to 9.3 million cases for the year (ending December 31, 2016), while adjusted operating income increased 9.9% to $167 million.
In a recent interview with SND, Ste. Michelle president and CEO Ted Baseler said growth is ongoing for core brands Chateau Ste. Michelle, 14 Hands and Columbia Crest. “14 Hands has actually leapfrogged Columbia Crest in terms of volume. We’re having success under Chateau Ste. Michelle with its Indian Wells tier, which is more premium than the Columbia Valley line. In Columbia Crest, we’re getting tremendous growth from the Horse Heaven Hills range, or what we call the H3 tier. With 14 Hands, we have a new red blend called Stampede, which has seen great success. We’ve also launched a Pinot Gris and a Sauvignon Blanc under 14 Hands.” —Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.