SOUTH CENTRAL Region

Regional Composite

REGIONALDATA REPORT

JAN – MAR2014 vs. 2013

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Methodology

• IRI gathers chain-wide sales across all RMAs (Retail Market Areas)– Starting in 2013, the IRI Regions reflect an expanded retail data set which

includes sales and volume from Walmart, Sam’s Club, Target and BJ’s, in addition to traditional grocery retailers

• Average Selling Price (ASP) is not Advertised Retail Price– Average selling price is the average of all prices including coupons, promotional

pricing, club/loyalty card deals that are given at the register at the time of purchase

• Categories: Total Avocados, Produce = Total Produce including Avocados

• Timeframe: YTD Q1 (January – March) 2014

• Retail data provided by IRI / FreshLook Marketing

• Important Note: IRI / FreshLook Marketing periodically restates retail data, therefore this review cannot be compared or used in conjunction with prior reviews

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South Central: Region Highlights - YTD Q1

• Overview based on the following geography:– The South Central Region captures the Markets of Dallas, Houston and New Orleans,

plus additional cities not included in Markets

• South Central Overview– Avocado retail dollar average trends through Q1 outpaced Produce retail dollar trends – Category dollars grew +6% in 2013 and +9% in 2014 for a net growth of +16% over

2012– Category units grew +8% in 2013 and +3% in 2014 for a net growth of +11% over

2012– Category average selling price (ASP) declined -2% in 2013 and increased +7% in

2014 to $0.85/unit

• South Central Per Store Averages– 2014 Average dollars of $4,898 per store were +6% higher than 2013 and +12%

higher than 2012– 2014 Average units of 5,774 per store were flat over 2013 and +7% higher than 2012

• South Central versus Total U.S. trends– SC category unit growth of +3% was -6 points lower than the national average– SC category dollar trend of +9% was -10 points lower than the national average– SC 2014 category ASP of $0.85/unit was -19% lower than the national average of

$1.05/unit

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South Central: YTD Q1 Retail Dollar Trend ComparisonsAvocados vs. Produce

• Avocado retail dollar trends through Q1 2014 outpaced Produce retail dollar trends– 2013 versus 2012, Avocados lagged Produce by -2 points– 2014 versus 2013, Avocados outpaced Produce by +6 points– 2014 versus 2012, Avocado dollars grew +16%, which outpaced

Produce by +4 points

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South Central: YTD Q1 Avocado Retail Overview

• Category dollars grew +6% in 2013 and +9% in 2014 for a net growth of +16% over 2012

• Category units grew +8% in 2013 and +3% in 2014 for a net growth of +11% over 2012

• Category average selling price (ASP) declined -2% in 2013 and increased +7% in 2014 to $0.85/unit

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RETAIL UNITSPLU Description 2013 2014 Variance 2013 2014 Variance4046 Small Hass #60 sizes & smaller 29,197,497 34,462,035 +18.0% 119,684,011 148,049,708 +23.7%4225 Large Hass #40 & #48 sizes 19,782,862 21,996,822 +11.2% 158,120,695 155,679,743 -1.5%4770 X-Large Hass #36 sizes & larger 6,932,572 514,651 -92.6% 17,693,764 7,904,569 -55.3%Other Greenskins, Pinkertons, non-Hass PLUs 318,975 277,660 -13.0% 7,542,362 7,650,615 +1.4%

Organic All Organic PLUs 229,371 403,659 +76.0% 3,829,787 5,619,481 +46.7%Bags All bagged PLUs 6,654,549 7,182,189 +7.9% 45,943,454 57,798,567 +25.8%

63,115,827 64,837,017 +2.7% 352,814,072 382,702,682 +8.5%

RETAIL DOLLARSPLU Description 2013 2014 Variance 2013 2014 Variance4046 Small Hass #60 sizes & smaller 15,402,915$ 20,352,583$ +32.1% 84,875,974$ 120,096,528$ +41.5%4225 Large Hass #40 & #48 sizes 21,886,602$ 25,939,336$ +18.5% 173,005,774$ 193,412,265$ +11.8%4770 X-Large Hass #36 sizes & larger 6,693,165$ 661,233$ -90.1% 20,851,204$ 14,074,386$ -32.5%Other Greenskins, Pinkertons, non-Hass PLUs 592,655$ 570,929$ -3.7% 12,660,484$ 13,534,846$ +6.9%

Organic All Organic PLUs 329,924$ 594,685$ +80.2% 5,997,711$ 8,942,240$ +49.1%Bags All bagged PLUs 5,378,476$ 6,877,021$ +27.9% 37,130,446$ 50,724,719$ +36.6%

50,283,737$ 54,995,786$ +9.4% 334,521,594$ 400,784,985$ +19.8%

AVERAGE SELLING PRICE (ASP) / UNITPLU Description 2013 2014 Variance 2013 2014 Variance4046 Small Hass #60 sizes & smaller $0.53 $0.59 +11.9% $0.71 $0.81 +14.4%4225 Large Hass #40 & #48 sizes $1.11 $1.18 +6.6% $1.09 $1.24 +13.5%4770 X-Large Hass #36 sizes & larger $0.97 $1.28 +33.1% $1.18 $1.78 +51.1%Other Greenskins, Pinkertons, non-Hass PLUs $1.86 $2.06 +10.7% $1.68 $1.77 +5.4%

Organic All Organic PLUs $1.44 $1.47 +2.4% $1.57 $1.59 +1.6%Bags All bagged PLUs $0.81 $0.96 +18.5% $0.81 $0.88 +8.6%

$0.80 $0.85 +6.5% $0.95 $1.05 +10.5%

JAN

UAR

Y - M

ARCH

: 201

3 vs

201

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South Central Total U.S.

TOTAL CATEGORY UNITS

South Central Total U.S.

TOTAL CATEGORY DOLLARS

South Central Total U.S.

CATEGORY ASP ($/Unit)

South Central vs. Total U.S.YTD Q1 PLU Comparisons

• SC category unit growth of +3% was -6 points lower than the national average– SC growth trend

was primarily driven by PLU 4046, which grew +18% or +5 million units

• SC category dollar trend of +9% was -10 points lower than the national average– SC growth trend

was driven by PLU 4046 and 4225, which collectively grew +$9 million

• SC 2014 category ASP of $0.85/unit was -19% lower than the national average of $1.05/unit

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$4,391 $4,601 $4,898

+4.8% +6.4%

Avg Retail Dollars Per Store

2012 2013 2014

5,410 5,775 5,774

+6.8% -0.0%

Avg Retail Units Per Store

2012 2013 2014

South Central: YTD Q1 Category Per Store Averages

• In 2014, per store dollar average exhibited growth over the prior year, while units exhibited flat growth– 2014 Average dollars of $4,898 per store were +6% higher than 2013

and +12% higher than 2012– 2014 Average units of 5,774 per store were flat over 2013 and +7%

higher than 2012

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South Central: 2012 through Q1-2014 Per Store AveragesBy Quarter - Units vs. ASP

• Average Retail Units Per Store– The peak quarter was 2013-Q3 at 5,893 units per store when ASP was $0.88/unit– The lowest quarter was 2013-Q4 at 4,513 units per store when ASP was

$0.93/unit

• ASP– Lowest ASP to date occurred during 2013-Q1, $0.80/unit– Highest ASP to date occurred during 2012-Q3, $0.95/unit

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South Central: Region Highlights - YTD Q1

• Overview based on the following geography:– The South Central Region captures the Markets of Dallas, Houston and New Orleans,

plus additional cities not included in Markets

• South Central Overview– Avocado retail dollar average trends through Q1 outpaced Produce retail dollar trends – Category dollars grew +6% in 2013 and +9% in 2014 for a net growth of +16% over

2012– Category units grew +8% in 2013 and +3% in 2014 for a net growth of +11% over

2012– Category average selling price (ASP) declined -2% in 2013 and increased +7% in

2014 to $0.85/unit

• South Central Per Store Averages– 2014 Average dollars of $4,898 per store were +6% higher than 2013 and +12%

higher than 2012– 2014 Average units of 5,774 per store were flat over 2013 and +7% higher than 2012

• South Central versus Total U.S. trends– SC category unit growth of +3% was -6 points lower than the national average– SC category dollar trend of +9% was -10 points lower than the national average– SC 2014 category ASP of $0.85/unit was -19% lower than the national average of

$1.05/unit