For the First Quarter of Fiscal 2022 *Net sales increased 21.0% to $2.3 billion compared to $1.9 billion in the first quarter of fiscal 2021 due to the favorable impact of fewer COVID-19 restrictions compared to the first quarter of fiscal 2021. *Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 18.0%, driven by a 10.0% increase in transactions and an 7.3% increase in average ticket. *Gross profit increased to $941.0 million compared to $753.8 million in the first quarter of fiscal 2021. As a percentage of net sales, gross profit increased to 40.1% compared to 38.9% in the first quarter of fiscal 2021, primarily due to leverage in fixed costs, strong growth in other revenue, and favorable channel mix shifts, partially offset by lower merchandise margin. *Operating income increased to $437.7 million, or 18.7% of net sales, compared to $305.3 million, or 15.8% of net sales, in the first quarter of fiscal 2021. *Net income increased to $331.4 million compared to $230.3 million in the first quarter of fiscal 2021.
A global leader in industrial packaging products and services, Greif has launched a lightweight, high-performance jerrycan in Brazil suitable for packaging agrochemicals, chemicals, flavors, fragrances, and beverages.
The JCR20L is almost 20 percent lighter than the standard 20-liter jerrycan. The reduced weight accommodates up to seven percent more jerrycans per pallet and 6.7 percent greater warehouse storage capacity. In addition, the lighter weight means lower collection costs for recycling.
Internal analysis indicates that the combination of these factors amounts to a 25 percent reduction in CO2 emissions compared to the standard 20-liter jerrycan.
“We work closely with our customers to understand and anticipate their end market needs. Demand for small plastic packaging remains high across Latin America. There is a growing push towards more sustainable practices for packaging,” explained Gustavo Melo, Market Intelligence Manager for Greif Latin America.
“Transitioning to a more sustainable packaging alternative is not always a straightforward process. It requires flexibility and a real commitment to reducing environmental impact. Customers who make the switch to JCR20L will benefit from significant cost and environmental savings through less energy and raw materials usage in the manufacturing process, as well as storage and transport efficiency savings. The lighter weight means lower collection costs as charges are typically weight-based.”
The JCR20L is manufactured from high-density polyethylene (HDPE) and can be mono or produced with a coextruded, fluorinated, or plasma barrier.
Greif LATAM specializes in steel drums, plastic containers, and packaging closures. It operates 15 facilities across Brazil, Argentina, Chile, Colombia, Costa Rica, and Guatemala.