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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.”
Anheuser-Busch touted the successful first-week performance of its hard seltzer collaboration with rap star Travis Scott, Cacti Agave Spiked Seltzer, which sold out in many brick-and-mortar stores within 24 hours and online within 12 hours.
Molson Coors addressed concerns caused by a cybersecurity incident and February’s winter storm in Texas in a post-trading Friday press release that reaffirmed its full year 2021 financial guidance and provided an update on its post-disruption business.
Molson Coors Beverage Company said the Topo Chico line will begin hitting store shelves in nine states starting March 29, giving the company yet another hard seltzer brand to compete within the more than $4 billion hard seltzer segment that has thus far been dominated by two brands: Mark Anthony Brands’ White Claw and Boston Beer Company’s Truly Hard Seltzer.
Boston Beer Company executives believe Truly Punch could be the next big thing in hard seltzer, rivaling the brand’s Lemonade and Iced Tea offshoots.
Employees of Anheuser-Busch InBev-owned Platform Beer Company’s taproom in Columbus, Ohio, walked out en masse on Saturday, February 27, citing unsafe working conditions, according to social media posts.
“As a global pandemic ravaged the world, the country, the state and our very own city, Platform’s handling of the situation — and the praise for its employees — has been almost entirely performative,” the staff wrote in a letter that was shared online.
Anheuser-Busch InBev may be looking inward for a possible successor for CEO Carlos Brito. According to Bloomberg News, Michel Doukeris, CEO of A-B’s U.S. business, is the front-runner to succeed Brito.
Anheuser-Busch InBev’s 2020 global revenues declined 3.7%, to $46.8 billion, driven by the continued impact of the COVID-19 pandemic in what was “undoubtedly a difficult year for our colleagues and our business,” CEO Carlos Brito said during a call with investors and analysts Thursday to discuss the company’s Q4 and full-year 2020 earnings. “While we… Read more »
Heineken USA showed off a slate of innovations that will begin rolling out in retailers this spring — including what CEO Maggie Timoney called its latest crown jewel, Dos Equis Ranch Water Hard Seltzer — during its spring meeting with wholesalers this week.
Truly Hard Seltzer boosted Boston Beer Company’s 2020 revenue to $1.74 billion, but production of the popular bubbly beverage remains a drag on the company’s gross margins, the company reported during its full-year and fourth quarter earnings report Wednesday.
Boston Beer Company’s sales increased 38.9% in 2020, generating $1.74 billion in revenue, according to the company’s earnings report released Wednesday afternoon.
Boston Beer Company announced a truly sweet round of bonuses for its top executives last week, as well as their 2021 salaries. The SEC filing also revealed that Boston Beer hired consulting firm Frederic W. Cook & Co. last year to review the total compensation being paid to CEO Dave Burwick.
Pointing to on-premise closures and capacity restraints due to the COVID-19 pandemic, Molson Coors Beverage Company posted net sales declines for both the full year and the fourth quarter of 2020.
In reporting full-year 2020 earnings today, Heineken NV announced plans to cut its global workforce by 8,000 full-time employees as part of a reorganization plan first announced in October. Heineken, the world’s second largest beer manufacturer, also recorded several impairment charges totaling more than $1.1 billion (€963 million) to “tangible and intangible assets in operating profit.”
Stella Artois lager will no longer be imported from Europe into the U.S. by the end of the year, Anheuser-Busch InBev announced today. The world’s largest beer manufacturer will move production of its biggest import brand to its U.S. facilities as part of a $1 billion investment the company is making in its U.S. operations over the next two years.
