date:Aug 22, 2013
d not compensate for overall lower prices, most notably for peanut butter. The company decreased peanut butter prices by approximately 10% late in its fiscal 2013 third quarter in anticipation of further reductions in peanut costs later in fiscal 2014.
Operating profits of the U.S. Retail Coffee business were $146 million in the first quarter, up 16% from $126.4 million in the same period last year. Sales were $514.4 million, down 1%.
Volume in the quarter rose 4% from the same period in fisca