Green Mountain Coffee fell short of expectations in the fourth quarter, and its share price tumbled 36%.
Shares of Green Mountain Coffee Roasters (GMCR) fell 36% in early trading on Thursday as fourth-quarter revenue fell short of wall street analysts' expectations.
Green Mountain Coffee today released its fourth quarter results. Sales of green mountain coffee in the fourth quarter were $712 million, up 91% from the same period last year, but less than analysts had expected, according to the report. Analysts on average expect sales of Green Mountain Coffee to be $760.5 million in the fourth quarter, according to FactSet Research, a market research firm. Green Mountain Coffee's fourth-quarter net income was $75.4 million, nearly tripling from $2700 a year earlier, and earnings per share were 47 cents, up from 20 cents a share in the same period last year.
In the latest trading in New York today, Green Mountain Coffee fell $24.04, or 36%, to $42.98. Green mountain's shares have fallen 54% in the past month after hedge fund manager David Einhorn criticized the company's transparency and accounting policies at a hedge fund conference last month. But in the past 12 months, Green Mountain Coffee is still up 27%.
Green Mountain Coffee is headquartered in Waterbury, Vermont, USA, and its main products include Keurig single cup coffee maker and so on.
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Starbucks increases financing for coffee bean producers
Starbucks 'vice president said the company is investing heavily in expanding its range of businesses, breaking away from its previous model of focusing solely on store operations. Starbucks raised $146 million from coffee bean producers in 2010. In the coming years, the company also plans to invest in new coffee plantations and provide agricultural economics and technical support to coffee producers. Starbuck
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Recollection: McDonald's Coffee compensation case
It is chilly in spring in Albuquerque, New Mexico, on February 27, 1992. A car drove past McDonald's and bought a cup of hot coffee worth 49 cents. Lieboke, a 79-year-old woman, sat in a Ford probe sports car and asked her grandson to stop and add some milk powder and sugar. The car had just stopped when the old man accidentally missed. With a scream, the whole cup of hot coffee was spilled on the old lady.
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