Operating earnings for the half were $101 million, comparable to the prior year, reflecting earnings gains in the Asia Pacific region offset by lower earnings in Europe.
Sales for U.S. Beverages were $182 million for the second quarter, a decrease of 3 percent compared to the year-ago period, due to declines from volume and mix.
The decrease in sales was due to declines in “V8” vegetable juice and “V8 V-Fusion” beverages. “V8 Splash” juice beverages sales increased slightly.Operating earnings for the quarter were $37 million compared with $34 million in the prior year. The increase in operating earnings was primarily driven by lower advertising expenses and productivity improvements, partially offset by volume declines and cost inflation. For the first half, sales decreased 4 percent to $371 million. A breakdown of the change in sales follows:
- Volume and mix subtracted 3 percent
- Increased promotional spending subtracted 1 percent
- Volume and mix subtracted 6 percent
- Increased promotional spending subtracted 4 percent