Keurig Green Mountain Shares Plummet After Sales Forecast Cut

Keurig Green Mountain (GMCR) plummeted after the maker of single-serve coffee systems cut sales and profit forecasts, hurt by sluggish demand for its K-Cups and the slow rollout of a new cold-beverage machine. The results mark the latest setback for a business struggling to beat back private-label competition. Customers also have been slow to adopt its 2.0 brewer, hurting sales of Keurig’s K-Cup pods. A new cold-drink machine, which could compete with devices from SodaStream International, is rolling out later than investors had hoped. Keurig had slumped 43 percent this year through Wednesday’s close, and is half what it was at its high last year.