Dive Brief:
- Hain Celestial said its sales rose 32.2% to $631.3 million in its fiscal first quarter, despite a voluntary recall of nut butter products.
- The maker of natural and organic brands such as Arrowhead Mills, Soy Dream, Greek Gods yogurt, and Earth's Best, said net income was hurt by $14.2 million in charges related to the recall.
- The Lake Success, NY-based company recalled multiple brands of peanut and almond butters in August following reports of possible salmonella contamination.
Dive Insight:
Hain Celestial seems unstoppable these days. The company reported record sales for the last fiscal year just prior to the start of the recall. That crisis, it seemed, would make it impossible for the company to continue its growth spurt.
But it appears now that the rapidly growing market for organic and natural brands can trump just about anything - including a massive recall.