Utz Brands Inc. (NYSE: UTZ), a manufacturer of branded salty snacks, reported net sales for the 14-week fourth quarter of 2020 of $246.3 million, up 22.1%, compared with $201.8 million for the 13-week fourth quarter of 2019.
Utz’s recent fourth quarter, ended Jan. 3, benefited from the impact of the 53rd week in fiscal 2020 and estimates the “extra week” contributed approximately $16 million in net sales.
Gross profit increased 24.2% to $81.6 million, or 33.1% as a percentage of net sales, for the 14-week fourth quarter of 2020, compared with $65.7 million, or 32.6% as a percentage of net sales, during the 13-week fourth quarter of 2019.
In fiscal 2020, Hanover, PA-based Utz started the year as privately held but finished as publicly traded entity after joining with Collier Creek Holdings and going public in August 2020.
Click here to see Utz Brands’ fourth-quarter and full-year 2020 financial results.
