You know how I said in my last post that despite problems with currency exchange that CoolBrands was still a successful company? Yeah, well I wasn’t exaggerating.
Above I inserted the link for an article from the Toronto Star from December of 2003 talking about how CoolBrands in the prior year gained a lot of important business in the US from companies like Godiva and Haagen-Dasz. From their successful year, their quarterly earnings were higher than expected. Much higher. CoolBrands had an increase of $5.7 million in net profit from the same period the year before (2002). Their quarterly revenue rose $67.6 million dollars from the year prior, a jump of 78%. All of these numbers are better displayed in a chart that I created, also inserted above.
CoolBrands is a very successful company with a great background story of two brothers working hard. From their quarterly (and just in general) increases in revenue and profit due to growth, the CoolBrands company can continue to expand and serve more people. And like I’ve been saying, more business and more product means more that the customer will buy, so more money is being circulated throughout the economy. Yippee!
Bibliography for this post:
“CoolBrands Quarterly Earnings Climb 63%.” Toronto Star 25 Nov. 2003, Business sec.: D02. Toronto. EBSCO. Web. 9 Dec. 2012.
Happy eating and reading! -Erica