Irish soda bread hits $300K after topping $300M online
BREAKING NEWS: Irish soda bakes are set to become the hottest bread in the world, according to a recent survey.
The online bakery chain, Peanut Butter Bread, reported Thursday that the bread sold at its stores in Ireland, England and Italy was the second-highest-selling item in its Irish market, topping $250 million in sales during its fourth quarter.
Thats a huge jump from the $120 million it generated in the same period last year.
The Irish company is also the only company to break the $300 million mark worldwide.
According to a Peanut, it has been selling the bread for three years and now it has more than 300 stores in 24 countries.
The company said it is expecting to sell the product in 1,000 stores this year and will be adding more stores every year.
Peanut said it has grown to more than $1 billion in annual sales since it began selling its Irish product in 2016.
“We are seeing a lot of interest from customers around the world in the Peanut butter Bread, and Peanut says that its now the most popular bread in its country,” said Paul Naughton, Peanuts chairman and chief executive officer.
“Peanut butter is becoming an iconic brand that is selling at an incredible pace, with over 1,300 stores in 25 countries worldwide.
We look forward to continuing to offer our Peanut bread to our customers around Europe and beyond.”
Peanut also said it expects to reach 10 million sales in 2020.
The Peanut website reported that its Irish sales grew 18% to $6 million last year and that it now sells more than 2 million bags of Peanut per day.
Peanuts said it plans to increase its sales in the U.K., the U., Ireland and the Netherlands.
The Irish-owned company, which started in 2007, has more locations in Ireland than any other country.
Peans sales grew 30% in Ireland to $2.2 billion in its fourth fiscal quarter and the company’s growth in the last quarter was 40%.
Peanut, which launched in 2014 in London, England, has grown from a single bakery in 2008 to more like a chain.
Peanuts is the third-largest bread company in the country with 3,000 outlets in 13 countries, including the U, Germany, France, Spain, Italy, the Netherlands, Austria, Belgium, the U/K/AB, Belgium and Sweden.