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U.S. markets recover from steep losses
NEW YORK, Dec. 31 (UPI) -- A Snapple contract to supply New York City's municipal buildings with cold drinks is ending early due to slow sales, sources said.
Snapple had a six-year contract with the city that started in February 2004, the New York Post reported Wednesday.
The city expects to receive $17.7 in revenue and about $15 million worth of promotional value from the deal.
But, drink sales have been slow. An estimate of total revenues of $126 million was scaled back to $33 million two years ago.
Only 26 percent of anticipated sales were realized, the Post said.
In response, the company is hauling about 724 vending machines out of various city buildings.
"I could probably count on one hand the number of times I've seen somebody at that machine in the years it's been there," a municipal worker at a city building which had Snapple vending machines told the Post.
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