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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.”
Beverage sales in the convenience channel remained “healthy” in Q3 2023, up +4.4%, despite decelerating from stronger +6.6% growth in Q2, according to the latest Beverage Bytes survey of retailers conducted by Goldman Sachs Equity Research.
Boston Beer Company has filed a complaint against Downeast Cider and a former employee who now serves as the Boston-based cider maker’s SVP of marketing.
Massachusetts-based Quality Beverage has filed a lawsuit against Constellation Brands, alleging the bev-alc giant has interfered with its pending sale to wine and spirits wholesaler Martignetti Companies.
Monster Energy is “all-in on alcohol” and “thinks it could be big for them by 2025,” according to Goldman Sachs equity analyst Bonnie Herzog’s report from the National Association of Convenience Stores (NACS) trade show. The energy drink maker, which entered beverage-alcohol with the acquisition of CANarchy in January 2022, displayed its forthcoming hard tea, Nasty Beast Hardcore Tea during the show, Herzog wrote.
This year has been “nothing short of tumultuous” for the beer industry, National Beer Wholesaler Association (NBWA) outgoing chairman Gordon Green said during Monday’s general session at the trade organization’s Annual Convention in Las Vegas.
Happy Thursday! No, we haven’t mixed our days up. Happy Thursday is a new spiked refresher from Molson Coors, announced today.
Constellation Brands continues to grow its beer business, increasing net beer sales +12% year-over-year (YoY) in Q2 of fiscal year 2024 (+$253 million), to more than $2.39 billion.
Four years after debuting the revitalization plan that helped put it on its current path, Molson Coors rolled out a new acceleration plan to continue its growth during a strategy day for investors on Tuesday. Thanks to “substantially improved financial flexibility,” Molson Coors will enact a $2 billion share buyback program over the next five years, chief financial officer Tracey Joubert said in a press release.
Tilray Brands has closed its acquisition of eight Anheuser-Busch InBev (A-B) beverage brands, including seven craft beer brands.
The Beer Institute (BI) has updated its Advertising and Marketing Code, including new guidelines on social media marketing and advertising placement standards.
One-third of the top 30 craft brands recorded gains in both dollar sales and volume in Circana-tracked multi-outlet grocery and convenience stores in the 12-week period ending September 10, which includes the bulk of the summer selling season.
Craft continues to battle declines, with dollar sales for the segment down -1% in the last 52 weeks (ending September 19) and volume down -5.3% in Circana-tracked channels. But the ebbs and flows of craft are what make it a “success,” Samuel Adams founder Jim Koch said last week during the company’s annual media brunch at the Great American Beer Festival (GABF).
Diageo’s largest market is under new leadership. The global spirits company has appointed Sally Grimes, the former head of Clif Bar, as CEO of North America effective next month.
Coors Light is going solo to Super Bowl LVIII in Las Vegas. Molson Coors CMO Sofia Colucci revealed last week during the company’s annual distributor convention in Orlando that the company would again purchase commercial time during the Super Bowl, and this year’s ad time would be devoted to Coors Light.
