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Molson Coors Beverage Company’s overall business remained in the red as the company closed its 2024 fiscal year. However, the fourth quarter showed improvement over the double-digit declines reported in Q3, and leadership is confident the company can return to growth in 2025, according to Molson Coors’ earnings call today with investors and analysts.
Just like the Kansas City Chiefs, draft beer also took an L in Super Bowl LIX. Draft beer volume declined -4.6% nationwide on Super Bowl Sunday, according to on-premise insights firm BeerBoard.
Tilray Brands is moving large-scale production from Revolver Brewing’s facility in Granbury, Texas, to other facilities, the company confirmed in a statement to Brewbound. Revolver’s Texas location “will continue to operate, focusing on unique and innovative brews, and the taproom will remain open.”
All of Boston Beer Company’s named executive officers (NEO) except for CEO Dave Burwick will receive salary raises in 2024, according to a U.S. Securities and Exchange Commision (SEC) Form 8-K filed on February 16.
Several news nuggets came out of Molson Coors’ annual 10K filing with the Securities and Exchange Commission (SEC) and first ever presentation at the Consumer Analyst Group of New York (CAGNY) conference earlier this week.
Although union workers went on strike Saturday at Molson Coors’ Fort Worth, Texas-based production brewery, the company’s top executives said the facility is brewing, packaging and delivering beer using “current employees” as of Monday.
A lawsuit filed by Boston Beer against a former employee alleging that he violated a non-compete agreement by working for a competitor has been dismissed. The complaint was “dismissed with prejudice as to as to all claims against Brian Soudant, without costs and fees and without right of appeal,” according to a document filed February 9 in the Massachusetts Superior Court for Suffolk County.
Following Molson Coors’ Q4 and full-year earnings report Tuesday, CEO Gavin Hattersley fielded questions from analysts on a range of topics from the stickiness of his company’s share gains, to why draft trends are struggling, to overall industry performance.
Anheuser-Busch InBev’s (A-B) Bud Light was dethroned by Michelob Ultra as the country’s best-selling draft beer on Super Bowl Sunday as drinkers watched the Kansas City Chiefs defeat the San Francisco 49ers in overtime, according to on-premise data firm BeerBoard.
Molson Coors’ gains at the expense of competitor Anheuser-Busch InBev’s losses continued to show in the company’s fourth quarter and full-year earnings reports.
The 2024 Super Bowl ad rankings are beginning to filter in, and the results are all over the place for the big game commercials from Anheuser-Busch InBev (A-B) and Molson Coors.
Two former sales representatives have challenged Boston Beer’s non-compete clause in separate lawsuits in U.S. District Court, with one calling the policy “unreasonable, unconscionable and unenforceable under Massachusetts law.”
The convenience channel remains a bright spot for beer as the category tackles declines elsewhere, and growth in the channel is expected to continue through 2024, Goldman Sachs analysts reported in the company’s latest Bev Bytes retailer survey.
Patience is paying off for Pacifico. Constellation Brands is giving its third-largest beer brand the time and space it needs to grow, Beer Division president Jim Sabia said during the annual Beer Industry Summit last week.
Industry executives gathered for Beer Business Daily’s annual Beer Industry Summit in Coronado, California, earlier this week. New Belgium continued to dominate craft scans in 2023, led by its Voodoo Ranger brand family, which claimed six spots in Circana’s list of the top 30 craft brands by dollar sales in tracked off-premise channels. As the company faces the comps – including multiple double-digit gains – New Belgium will not rest on its laurels, new CEO Shaun Belongie said on stage Sunday.
With its business expanding amid a rising U.S. energy drink category, Monster Beverage Corporation projected confidence in its widening product portfolio during its annual investor meeting presentation yesterday.
Hensley Beverage Company president and CCO Andy McCain has been promoted to CEO of the beverage distributor, effective immediately. McCain has worked for Hensley — a 69-year-old independent Anheuser-Busch InBev wholesaler that covers Arizona and New Mexico — for more than 27 years, serving in several leadership roles over that time, including CFO. He was… Read more »
