SodaStream Q2 Sales Drop

Second quarter revenue for SodaStream was down as the company continues to move forward with its plan to reposition itself as a water brand and away from soda.

For the three months ended June 30, total company sales were $101.7 million, down 28%. In the company’s Americas division, sales were $23.1 million, down 44% year over year.

Sales of sparkling water maker starter kits were down 35%, while sales of consumables were down 25%. However, CO2 refills were up 7%.

"Our second quarter performance was in-line with our expectations,” said Daniel Birnbaum, CEO of SodaStream. “As we previously discussed, the first half of 2015 would be a challenging period due to implementation of our global restructuring and growth plan combined with changes in foreign currency exchange rates.”

Birnbaum said the company is making “tremendous progress” toward repositioning the company as a “water brand” behind a health and wellness positioning.

SodaStream’s new portfolio of sparkling water flavors is currently rolling out to retailers globally and the company is testing a new marketing campaign, “Sparkling Waters – Made by You,” that includes television advertising in several cities in the United States, company officials said.