The company cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, the company’s reported GAAP results.
|Supplemental Information (Unaudited)|
|Nine Months Ended January 31, 2012|
|% Change vs. YTD FY2011|
|Depletions||Net Sales 6|
||9-Liter||Equivalent Conversion 7||Reported||Constant Currency|
|Jack Daniel’s Family||11%||13%||14%||12%|
|Jack Daniel’s Family of Whiskey Brands 8||13%||13%||14%||13%|
|Jack Daniel’s RTD||8%||8%||15%||7%|
|el Jimador Family||7%||2%||(2%)||0%|
|New Mix RTD 9||9%||9%||5%||7%|
|Southern Comfort Family||(3%)||(4%)||(5%)||(6%)|
|Southern Comfort 10||(4%)||(4%)||(5%)||(6%)|
|Southern Comfort RTD/RTP 11||2%||2%||1%||(5%)|
|Super-Premium Other 12||8%||8%||6%||6%|
|Rest of Brand Portfolio(excl. Discontinued Brands)||11%||11%||9%||9%|
|Total Active Brands||8%||7%||9%||8%|
|Note: Totals may differ due to rounding|
|6Net sales figures are shipment based|
|7Equivalent conversion depletions represent the conversion of ready-to-drink (RTD) brands to similar drinks equivalent as the parent brand for various trademark families. RTD volume is divided by 10.|
|8Jack Daniel’s brand family excluding RTD line extensions|
|9RTD brand produced with el Jimador tequila|
|10Includes Southern Comfort, Southern Comfort Reserve, Southern Comfort Lime and Southern Comfort Fiery Pepper|
|11Refers to all RTD and ready-to-pour (RTP) line extensions of Southern Comfort|
|12Includes Chambord liqueur and flavored vodka, Herradura, Sonoma-Cutrer, Tuaca, and Woodford Reserve|
- Total active brands depletions were up in the mid single digits and reported net sales were flat during the third quarter of fiscal 2012. Constant-currency net sales grew in the low single digits for the company’s active brands in the quarter.
- For the Jack Daniel’s Family of Whiskey Brands, which includes Jack Daniel’s Tennessee Honey, fiscal 2012 first nine-month depletion gains in the U.S., the UK, Germany, Mexico, France, Canada, S. Africa, Poland and Turkey outpaced declines in Australia.
- International depletions for Jack Daniel’s Tennessee Whiskey grew by double digits in the third quarter of fiscal 2012. U.S. depletions for the brand were up by low single digits for the quarter.
- Gentleman Jack and Jack Daniel’s Single Barrel depletions and constant-currency net sales grew double digits, with double-digit growth in international markets for the nine-month period.
- Jack Daniel’s RTDs registered double-digit growth in net sales on a reported basis and mid single digit constant-currency basis for the first nine months of fiscal 2012, as the brands continued to benefit from strong volumetric gains in Germany, U.K., Mexico, and further geographic expansion into other markets such as Japan, South Africa, and Poland, offsetting declines in Australia.
- Finlandia’s global depletions were up by high double digits in the third quarter, as Russia and Poland led growth, offsetting weakness in the U.S.
- We believe Southern Comfort liqueur in the U.S. continued to be negatively affected by increased competition from flavored whiskeys, flavored vodkas, and spiced rums, particularly those consumed in the more traditional shot occasion. The company continued to pursue a number of initiatives to reverse Southern Comfort’s trends, including a new consumer engagement plan, focus on flavored line extensions including Lime and Fiery Pepper, and RTD introductions in new international markets.
- el Jimador’s depletions declined low-single digits for the first nine months of the year, as growth in the U.S. was offset by mid single-digit declines in Mexico.
- For the super-premium brands, nine month depletion growth was led by double-digit gains for Herradura, Woodford Reserve and Sonoma Cutrer.
- The addition of the agency Appleton brands in Mexico accounted for the increase in the rest of the portfolio.