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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.”
Diageo reported a 10.7% rise in net sales for fiscal year 2023, with premium-plus brands contributing 57% of overall organic net sales growth.
The fallout of Bud Light’s sales declines has led to several gains for Molson Coors in the second quarter with potentially more on the horizon. During Tuesday’s call with investors and analysts, Molson Coors president and CEO Gavin Hattersley noted that several retailers have moved up the timing of their shelf resets from the spring to the fall.
Boston Beer’s shipments declined again in Q2 – down -4.5%, to 2.3 million barrels. However, the company is still confident in its projections and its “strategic priorities remained unchanged,” founder Jim Koch said Thursday during the company’s call with investors.
According to a letter to distributors viewed by BevNET and Brewbound, Tony Short, CEO of Monster-owned beer maker CANarchy Craft Brewery Collective, confirmed previous reports that The Coca-Cola Company has begun the process of onboarding Bang within its national red-truck distribution system, marking the brand’s second go-round with one of the country’s largest beverage suppliers.
Boston Beer Company reported its second quarter earnings today, with net revenue declining -2.1%, to $603.3 million, compared to the same period in 2022.
Anheuser-Busch InBev (A-B) announced a corporate restructuring today that will see the world’s largest beer manufacturer cut just under 2% of its U.S. workforce, an A-B spokesperson confirmed with Brewbound.
The Beer Institute’s (BI) Code Compliance Review Board (CCRB) has found that Bud Light’s sponsored content with influencer Dylan Mulvaney did not violate the trade group’s Advertising Marketing Code and Buying Guidelines.
Boston Beer is “cranking up the dial on ABV” with its newest offering: Twisted Tea Extreme.
Constellation Brands posted solid shipments and depletions growth in its first quarter of fiscal year 2024. Beer shipments increased +7.5% year-over-year (YoY), to 107 million case equivalents, while depletions increased +5.5%.
Sean “Diddy” Combs’ signature album may be “No Way Out,” but Diageo apparently didn’t get the message.
Armed with combined experience at Diageo and JuneShine, the team behind Mate Maker— along with band Rüfüs Du Sol— has big plans for the hard kombucha category.
The convergence of beverage-alcohol and non-alcoholic brands may be a new trend, growing exponentially in the past few years, but it’s been decades in the making, according to leaders in the space during a BevNet Live panel last week.
As the Bud Light brand continues to lose sales and share amid conservative-led backlash over a one-off social media influencer partnership with a transgender woman, the company is now pledging financial support for its wholesaler partners, according to a 6K filing with the SEC.
A pair of beer distributor surveys found that many in the middle tier believe that the conservative led boycott of Anheuser-Busch’s Bud Light brand may be permanent. Financial services firm Jefferies’ survey found that a majority (65%) of distributors surveyed expect the Bud Light downturn to last at least another six months, while 32% believe it could be permanent. A separate distributor survey by Goldman Sachs analyst Bonnie Herzog found that most respondents are “pessimistic about the potential for a full recovery” of Bud Light’s “brand equity and market share.”
