Welcome to our dedicated page for Coffee Holding news (Ticker: JVA), a resource for investors and traders seeking the latest updates and insights on Coffee Holding stock.
Coffee Holding Co., Inc. reports developments in its wholesale coffee roasting and dealer business, including private-label coffee, proprietary branded coffee, and sales of green unroasted beans to smaller regional roasters. The company manufactures, roasts, blends, packages, markets, and distributes coffee products, with customer programs that include private label services, custom blending, and food service.
Recurring news for JVA covers quarterly and annual operating results, coffee-price and tariff effects, dividends, acquisitions and subsidiaries such as Second Empire, and manufacturing footprint changes tied to East Coast production capacity.
Coffee Holding Co., Inc. (Nasdaq: JVA) has entered into a binding agreement to acquire a 49% stake in The Jordre Well, a CBD beverage company. This partnership will facilitate the development of CBD-infused coffee products and new beverage brands, leveraging Coffee Holding's distribution network. Following the legalization of hemp, the company aims to capitalize on the growing CBD market, projected to reach $16 billion by 2025. The first CBD-infused products will feature Café Caribe and Harmony Bay brands, indicating a strategic move to meet consumer demand for CBD beverages.
Coffee Holding Co. (Nasdaq: JVA) reported its operating results for the three and nine months ended July 31, 2020. Net sales fell to $17.34 million, down 19.7% from the prior year, attributing the decline to COVID-19 impacts on food service customers. However, net income increased to $391,324, or $0.07 per share, due to reduced operating expenses and a favorable product mix. The company anticipates a sales rebound as restrictions ease and inventory depletes heading into its historically strong sales months.
Coffee Holding Co. (Nasdaq: JVA) reported its operating results for the three and nine months ending July 31, 2020. Net sales fell by 19.7% to $17.34 million for Q3 2020 and by 14% to $56.73 million for the nine-month period, largely due to the COVID-19 pandemic impacting restaurant and food service clients. Despite sales declines, gross profit margins improved to 22.1% for Q3. The company achieved net income of $391,324 ($0.07 per share) for Q3 2020 compared to $111,494 ($0.02 per share) in Q3 2019. Cost reductions contributed to profitability amid challenging market conditions.
Coffee Holding Co. (Nasdaq: JVA) announced the re-launch of its Harmony Bay Coffee brand featuring new packaging and the addition of 40oz. bag offerings. CEO Andrew Gordon highlighted the positive customer feedback regarding the refreshed look, which aims to attract a younger demographic. The new 40oz. bags include French Roast, Breakfast Blend, and Hazelnut, complementing existing popular blends. This strategic move has resulted in expanded distribution, including initial sales on the West Coast.