Fisher nuts maker sees dip in sales because of coronavirus
ELGIN -- John B. Sanfilippo & Son Inc. Tuesday announced operating results for its first quarter of fiscal 2021. Net income for the quarter was $12.8 million, compared to $12.9 million for the first quarter of fiscal 2020.
Net sales decreased to $210.3 million for the first quarter, compared to net sales of $217.8 million for the first quarter of fiscal 2020. The decrease in net sales resulted from a 3.5% decline in sales volume, which is defined as pounds sold to customers.
Sales volume declined 27.7% in the commercial ingredients distribution channel due to a 40.9% decline in sales volume for almond, peanut, walnut, sunflower and pecan products in the company's food service business. The decline in food service sales volume was due to a decline in air travel and nationwide restrictions on occupancy rates in and closures of restaurants, both of which were attributable to COVID-19.
Increased sales of Fisher snack nuts also contributed to a 3.8% sales volume increase in the consumer distribution channel. There also was a 6.9% increase in private brand sales volume for trail and snack mixes, mixed nuts, cashews and peanuts. The increase in sales volume for these products was partially offset by a decline in peanut butter sales volume due to a temporary peanut supply shortage during the current quarter, the company said.