All articles tagged with #beer sales
The article reports that Modelo, America's top-selling beer, has experienced a significant decline in sales and earnings due to reduced spending by Hispanic consumers amid immigration raids and increased tariffs under President Trump, leading to financial challenges for Constellation Brands.
Modelo's sales have declined among Hispanic consumers in the US, impacting its overall performance in the beer market.
Constellation Brands, parent of Modelo and Corona, faces a significant drop in beer sales, especially among Hispanic consumers, leading to a profit and sales warning and a stock price near a 5-year low, with revised earnings and sales outlooks for 2026.
Constellation Brands' beer sales declined by 2% in the latest quarter, largely attributed to decreased spending by Hispanic consumers amid concerns over Trump's immigration policies and broader economic fears, impacting demand for brands like Modelo, Corona, and Pacifico.
Constellation Brands reports a decline in beer sales, especially among Hispanic consumers, due to the impact of President Trump's immigration policies and related socioeconomic concerns, leading to decreased social occasions and consumer confidence, which has affected their flagship beer Modelo Especial and overall business performance.
Corona's parent company, Constellation Brands, reports a 2% decline in beer sales, primarily due to reduced spending by Hispanic customers who are staying home more often amid socioeconomic concerns and immigration policy fears, impacting sales in key markets.
Constellation Brands reported better-than-expected profits but cited socioeconomic headwinds, including economic concerns and immigration crackdowns, as factors hurting beer demand, especially among Hispanic consumers, leading to a slight after-hours stock decline.
US beer sales declined during Memorial Day weekend due to inflation, tariffs, and a shift towards sobriety, with Heineken experiencing the weakest sales among major brands, as younger generations drink less alcohol and consumers opt for alternative beverages.
Bud Light has lost its position as the most popular beer on tap in the US, overtaken by Michelob Ultra, another Anheuser-Busch InBev brand. This shift follows a boycott of Bud Light after a controversial Instagram post and reflects changing consumer preferences towards Michelob Ultra's health-conscious image. Despite Bud Light's efforts to regain market share, Michelob Ultra's strategic marketing and sponsorships have bolstered its popularity, leading to increased sales and draft availability.
On National Beer Day 2024, the US is witnessing a shift in beer preferences, with Modelo Especial surpassing Bud Light as the top-selling beer, while non-alcoholic beer sales have surged by 32.6%. The number of breweries in the US has grown to nearly 10,000, with craft beer sales increasing, but overall beer demand has declined due to competition from products like hard seltzers. Additionally, the price of beer at home has risen, and non-alcoholic beer is becoming a significant segment of the market.
Heineken, the world's second-largest brewer, reported a decline in beer sales in the third quarter due to its exit from Russia and higher prices. Volumes were down 4.2% compared to the previous year, resulting in a 5.1% decline for the first nine months of 2023. However, revenue increased by 2% to 9.604 billion euros ($10.17 billion) in the quarter, driven by price hikes. While sales in the Americas increased by 2.2%, Europe and the Africa, Middle East & Eastern Europe regions experienced declines. Heineken reiterated its full-year operating profit growth forecast and successfully completed the sale of its Russian business to Arnest Group.
Modelo Especial has overtaken Bud Light as America's best-selling beer, with sales surpassing Bud Light's in the wake of the Dylan Mulvaney controversy. Modelo's off-premise beer sales have been consistently higher than Bud Light's, and it currently holds a 9.1 share compared to Bud Light's 7 share. Bud Light's volumes have also declined by 26.7% as it struggles to recover from the public relations disaster. Constellation Brands, the distributor of Modelo, has seen an 11% increase in sales, driven by its beer business, which includes Corona.
Modelo Especial has surpassed Bud Light as America's best-selling beer, according to recent data. Sales of Modelo have outpaced Bud Light's at grocery and beer stores throughout 2023, marking the first time Modelo has beaten Bud Light on a year-to-date basis. Modelo's rise to the top was accelerated by Bud Light's declining popularity following a controversy. While Bud Light has seen some improvement in recent weeks, Modelo's success has been attributed to its strong performance among Hispanic drinkers and its efforts to expand its customer base. Other competitors, such as Molson Coors, have also experienced sales growth this year.
Heineken reported a 9% drop in net profit in the first half of the year, largely due to a decline in beer sales in Asia Pacific, particularly in Vietnam. The company cited an economic slowdown and its own underperformance in Vietnam as reasons for the weaker demand. Additionally, socioeconomic volatility in Nigeria and a decline in premium beer sales in Russia also contributed to the decline in profits. Heineken expects inflationary pressures to ease in the second half of the year but has revised its earnings guidance to "stable to mid-single-digit" growth in operating profit for the full year.
Modelo Especial, produced by Constellation Brands, has become the top-selling beer brand in the United States for the second consecutive month, surpassing Anheuser-Busch InBev's Bud Light. Bud Light's sales have declined following a backlash from conservatives over a social media promotion involving a transgender influencer. The sales of Bud Light and Budweiser dropped significantly, while Modelo Especial saw an increase in sales. The controversy has also affected other AB InBev beer brands, and retailers like Target have faced criticism for their handling of LGBTQ+ merchandise.