Continued strong consumer demand in the United States for kitchenware products gave a boost to first-quarter sales at Hamilton Beach.
Total revenue, for the quarter ended March 31 increased 23.5% to $149.2 million. Company sales through e-commerce increased 59% and accounted for 35% of total revenue.
In a press release announcing quarterly results, the company offered few specifics about which products and categories were key in driving growth.
Going forward, Hamilton Beach officials said several factors will combine to drive sales of small kitchen appliances and keep the momentum going through the remainder of 2021. These include strong at-home meal preparation, continued household formation by millennials and baby boomers transitioning to new homes or downsizing.
Hamilton Beach officials said the company continues to make progress with its strategic initiatives to drive growth in revenue and operating profit margin over time. In 2021, the company plans to further increase its focus on e-commerce and position itself for growth in dollars and share.
The kitchenware supplier is supporting growth in the e-commerce channel with a number of digital marketing programs, expansion of its direct-to-consumer distribution operation and increasing its participation with pure-play and omnichannel customers.
In the premium market, Hamilton Beach plans to support the strong momentum and revenue growth of the last two quarters with continued investments in robust new product development as well as pursuing additional partnerships and licensing agreements to further expand its participation in the premium market.
The company also plans to increase investment in new opportunities in the home, particularly in the large and fast-growing health and wellness space. Two examples of this include expanding its air purification offerings and entering the water filtration category.