CoolBrands Sales Drop 17%
The fast growing Canadian ice cream marketer says sales declined 17% for the second quarter of fiscal 2005, ended February 28.
Net loss for the quarter was $3.97 million, compared with net earnings of $9.5 million in 2004.
David J. Stein, co-chairman and CEO added "our super premium pint brands, faced increased competition from new and existing super premium brands."
The company said it had seen encouraging sales of its new No Pudge! products during the quarter and continued to secure shelf authorizations for other new products in its portfolio. It also believes there will be further growth opportunities as it expands its newly acquired Breyer's yogurt business.