Walmart China has revised its sales forecasts upwards for the products it is supplied by trans-Tasman dairy producer Keytone Dairy Corporation.
With China sales running 50 pert cent of previous expectations, Walmart has now forecast sales for calendar 2021 of $6.8 million of whole and skim milk powder for Walmart’s Sam’s Club West.
This is 3.8 times the prior forecast.
Keytone’s factories in Australia and New Zealand provide contract manufacturing services and make its proprietary brands including KeyDairy, SuperCubes, Tonik, and Gran’s Fudge.
Its products are carried in major retailers such as Woolworths, Metro Petroleum and EzyMart in Australia, Pak’nSave in New Zealand, and Metro and LianHua in China and online on ecommerce platforms such as JD.com and Tmall.com.
Keytone CEO Danny Rotman said: “We are continuing to build on our strategic partnerships with key clients and the results are outstanding.
“Sales have been well ahead of forecast and we see further upside given the continued rollout of Sam’s Club mergastores in China, the growing traction the products are receiving and the overperformance against forecast to date.”
Picture: Keytone Dairy Corporation
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