Constellation Brands and Molson Coors are expected to annex more shelf and cooler space in convenience stores following the upcoming spring 2024 resets, according to Goldman Sachs Equity Research’s recent Beverage Bytes survey.
Distributors noticed stronger beer trends this summer versus last summer, “despite headline concerns over the slowing category and ongoing Bud Light pressures,” Goldman Sachs analysts reported in the company’s latest Bev Bytes Beer Distributor Survey.
A month after Molson Coors’ sunny Q2 earnings call with investors, CEO Gavin Hattersley gave an update on continued positive trends at the Barclays Global Consumer Staples Conference.
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%.
Constellation Brands is exiting the craft beer business. Constellation, which has found success with Mexican import brands Modelo, Corona and Pacifico, said it will divest of its craft and specialty division to refocus its efforts on its core brands. As such, Funky Buddha Brewery in Florida and Four Corners Brewing Co. in Texas will return to their respective original founders.
Production at craft breweries falling outside of the Brewers Association’s (BA) craft brewer definition collectively declined -4% on a comparable basis, to more than 8.68 million barrels in 2022, according to data shared by the trade group in the May/June edition of the New Brewer Magazine.
Constellation Brands has acquired a minority stake in TÖST, an alcohol-free sparkling beverage brand, the company announced yesterday.
The Consumer Price Index (CPI) for beer both at home (+6.1%) and away from home (+5.5%) outpaced overall inflation (+5%) in March 2023 compared to March 2022, according to the U.S. Bureau of Labor Statistics (BLS). Constellation Brands recorded an impairment charge of $66.5 million pertaining to what’s left of its craft beer division in its fiscal year 2023 fourth quarter, according to its most recent 8-K form filed with the U.S. Securities and Exchange Commission (SEC).
Constellation Brands’ beer business topped $7.456 billion in net sales, an +11% year-over-year increase (YoY), during its 2023 fiscal year, which ended February 28, the company reported today during its full-year and fourth-quarter earnings report.
Columbia Distributing, one of the National Beer Wholesalers Association’s (NBWA) largest members, has resigned from the trade group “effective immediately.”
A federal jury has found that Constellation Brands’ production of products such as Corona Hard Seltzer and Modelo Ranch Water does not violate the company’s licensing agreement with Anheuser-Busch InBev (A-B).
Not content to rest on Modelo’s laurels as the country’s No. 2 beer brand, Constellation aims to continue to raise consumer awareness, which increased +43% in 2022, VP of brand marketing Greg Gallagher said. “We have a ton of room to grow and we’ll have to continue to find new ways to attract more drinkers,” he said.
It’s not a matter of if but when Modelo Especial will become the nation’s No. 1 beer brand in dollar sales, Constellation Brands Beer Division president Jim Sabia told wholesalers Tuesday during the company’s Gold Network Summit in Las Vegas.
Jon London has returned to Boston Beer Company as brand director of Angry Orchard, the hard cider brand he helped launch more than a decade ago.
Both sales velocity and check value at bars and restaurants nationwide increased by nearly double-digits in early February, according to CGA, the on-premise arm of market research firm NielsenIQ. Leading up to the Super Bowl, which took place on February 12, on-premise velocity in the host city and state of Phoenix, Arizona, increased +35% compared to the previous week.
