vita coco co said it plans to raise prices this year to offset rising ocean freight rates and other logistics costs due to ocean freight service and cost challenges to the east coast our inventory is out of balance geographically cochief executive martin roper said our positive growth outlook for fiscal year 2022 assumes continuation of this momentum and expected distribution gains while assuming that our pricing actions do not fully cover the inflationary transportation cost effects which we believe should recede once supply chains stabilize the beverage company plans to raise prices and reduce promotional activities through fiscal 2022 to help offset higher costs mr roper said the companys gross margins for the fourth quarter were hurt by a 15 increase in cost of goods per case equivalent compared with the prior period mr roper said vita coco said it absorbed 8 million of incremental costs of goods on a ratemix basis in the quarter and 24 million for the full year the company said sales rose 25 to 87 million in the quarter driven by its coconut water brand whose sales grew 61 the company posted a net loss attributable to shareholders of 3 million or six cents a share compared with net earnings of 17 million or 29 cents a share in the yearearlier period which benefited from the revaluation of the contingent liability of 16 million related to the companys runa brand write to will feuer at willfeuerwsjcom