Smucker Lowers Coffee Price
Reduces Folgers, Dunkin' Donuts and Folgers Gourmet Selections brands by 6%
ORRVILLE, Ohio -- The J. M. Smucker Co. has announced that it has decreased the list price for the majority of its coffee products sold in the United States, primarily consisting of items sold under the Folgers, Dunkin' Donuts and Folgers Gourmet Selections brand names. Prices will decrease an average of 6% on impacted items.
The decrease in price is driven by declines in the green coffee futures market, the company said.
The company is currently in its quarter-end quiet period and, therefore, will answer investor related follow up questions during its August 18, 2011, [image-nocss] fiscal first-quarter earnings conference call, it said.
Dunkin' Donuts brand is licensed to Smucker for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores and drug stores. The price decrease does not pertain to Dunkin' Donuts coffee or other products for sale in Dunkin' Donuts restaurants.
Orrville, Ohio-based Smucker is a leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk and health and natural foods beverages in North America. Its family of brands includes Smucker's, Folgers, Dunkin' Donuts, Jif, Crisco, Pillsbury, Eagle Brand, R.W. Knudsen Family, Hungry Jack, Cafe Bustelo, Cafe Pilon, White Lily and Martha White in the United States, along with Robin Hood, Five Roses, Carnation, Europe's Best and Bick's in Canada.