- Earl S. (Tupperware) Tupper born (1907)
Maker's Mark's Mistake Sent Jim Beam's Sales Soaring
Recipe of the day
- The 1 Drinking Game That Isn’t Weird for Legitimate Adults to Play
- Drink Margaritas Outside and Get ‘Lime Disease’
- These Tequila Cocktails Will Have You Saying "Move Over, Margarita!"
- The One Thing You Didn’t Realize You Wanted at Chipotle
- Best Bars (and Cocktails) to Celebrate National Tequila Day!
Remember that little problem Maker's Mark had when the distillery said it would lower the alcohol content on its signature bourbon — and then reversed its tune? Yeah, Jim Beam is laughing all the way to the bank becuase of it.
Reuters reports that sales of Maker's Mark jumped 44 percent after the initial announcement, presumably because fans stocked up on the original Maker's Mark. And it could be why Beam's net income rose for 2012; says Reuters: "Beam on Thursday said net income rose to $114.5 million, or 71 cents per share, in the first quarter, from $79.1 million, or 49 cents per share, a year earlier." Those are some big dollar signs, but the company acknowledged that that kind of growth from Maker's Mark was likely unsustainable in the long run.
Overall, Jim Beam's sales rose 8 percent to $577.7 million, as the increase of Maker's Mark's sales offset some weaker sales of Sauza Tequila, Courvoisier cognac, and Kilbeggan Irish whiskey.
Be a Part of the Conversation
Join the Daily Meal's Community and Share your Thoughts