Keurig Plunges After K-Cup Maker Cuts Sales Forecast

Keurig Green Mountain Inc. plummeted the most in three years after cutting sales and profit forecasts, hurt by sluggish demand for its K-Cups and the slow rollout of a new cold-drink machine.

The maker of single-serve brewers now expects sales to suffer a percentage decline in the low- to mid-single digits this year, according to a statement on Wednesday. Keurig had previously predicted that sales would be flat or up. Profit will drop in the “low teens,” partly because of currency headwinds. The company had forecast a decrease in the mid-single digits.