The J. M. Smucker Company Announces Coffee Price Decreases
ORRVILLE, Ohio, Aug. 16, 2011 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM) announced today that it 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 six percent on impacted items.
The decrease in price is driven by declines in the green coffee futures market. The Company is currently in its quarter-end quiet period and, therefore, will answer investor related follow up questions during its August 18, 2011, fiscal first quarter earnings conference call.
Dunkin' Donuts® brand is licensed to The J. M. Smucker Company for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores, and drug stores. This press release does not pertain to Dunkin' Donuts® coffee or other products for sale in Dunkin' Donuts® restaurants.
About The J. M. Smucker Company
For more than 110 years, The J. M. Smucker Company has been committed to offering consumers quality products that bring families together to share memorable meals and moments. Today, 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. The Company remains rooted in the Basic Beliefs of Quality, People, Ethics, Growth and Independence established by its founder and namesake more than a century ago. The Company has appeared on FORTUNE Magazine's list of the 100 Best Companies to Work For in the United States 13 times, ranking number one in 2004. For more information about the Company, visit www.smuckers.com.
The J. M. Smucker Company is the owner of all trademarks, except Pillsbury, the Barrelhead logo and the Doughboy character are trademarks of The Pillsbury Company, LLC, used under license; Carnation is a trademark of Societe des Produits Nestle S.A., used under license; and Dunkin' Donuts is a registered trademark of DD IP Holder, LLC, used under license. Borden and Elsie are trademarks used under license.
SOURCE The J. M. Smucker Company