Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Coors Light, Miller Light combined sales now '50% bigger than Bud Light': Molson Coors CEO By: FOX Business August 01, 2023 at 17:03 PM EDT Molson Coors beers brands are swallowing Bud Light’s market share after company’s Dylan Mulvaney marketing campaign. Molson Coors reported second-quarter earnings Tuesday. Molson Coors beers like Coors Light and Miller Lite are devouring Bud Light’s market share amid ongoing fallout from the Dylan Mulvaney marketing campaign.On Tuesday, Molson Coors reported an 11.8% surge in net sales over the second quarter and a 5% jump in financial volumes, with U.S. increases reflecting a shift in consumer purchasing behavior."We are seeing share and market improvement everywhere, and more consumers are reaching for our beers than our competitors’ beers," Molson Coors CEO Gavin Hattersley said in an earnings call Tuesday.BUD LIGHT LAYS OFF HUNDREDS OF WORKERS AFTER DYLAN MULVANEY CONTROVERSY, LOSING TOP SPOT TO MODELO"Coors Light and Miller Lite are now 50% bigger than Bud Light by total industry dollars," Hattersley said. "Last year, Bud Light was bigger than both. Retailers are making space for our brands as demand increases."HEINEKEN CEO SAYS BRANDS MUST 'BE BALANCED' AND 'STAND UP FOR YOUR VALUES'Molson Coors increased volume and net sales in all its largest markets, including the U.S., Canada and the U.K., while reaching its best quarterly brand volume trend since 2008. The company also added 12,000 new tap handles for its growing consumer base, with some distributors reporting as much as 50% in growth throughout the quarter. CORONA LIGHT, COORS LIGHT GAIN TRACTION OVER BUD LIGHT"We will invest heavily in our momentum," Hattersley said on the call.With a new stake in market share, Molson Coors lifted its 2023 financial guidance and expects a high single-digit increase in net sales versus 2022 on a constant currency basis. The previous guidance predicted a low single-digit increase.Molson Coors shares are up roughly 30% year to date.GET FOX BUSINESS ON THE GO BY CLICKING HEREIn stark contrast, shares of Bud Light parent company Anheuser Busch are roughly 10.7% lower than the last quarter and almost 5.3% in the red since Jan. 1. Related Stocks: Molson Coors Brewing Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Coors Light, Miller Light combined sales now '50% bigger than Bud Light': Molson Coors CEO By: FOX Business August 01, 2023 at 17:03 PM EDT Molson Coors beers brands are swallowing Bud Light’s market share after company’s Dylan Mulvaney marketing campaign. Molson Coors reported second-quarter earnings Tuesday. Molson Coors beers like Coors Light and Miller Lite are devouring Bud Light’s market share amid ongoing fallout from the Dylan Mulvaney marketing campaign.On Tuesday, Molson Coors reported an 11.8% surge in net sales over the second quarter and a 5% jump in financial volumes, with U.S. increases reflecting a shift in consumer purchasing behavior."We are seeing share and market improvement everywhere, and more consumers are reaching for our beers than our competitors’ beers," Molson Coors CEO Gavin Hattersley said in an earnings call Tuesday.BUD LIGHT LAYS OFF HUNDREDS OF WORKERS AFTER DYLAN MULVANEY CONTROVERSY, LOSING TOP SPOT TO MODELO"Coors Light and Miller Lite are now 50% bigger than Bud Light by total industry dollars," Hattersley said. "Last year, Bud Light was bigger than both. Retailers are making space for our brands as demand increases."HEINEKEN CEO SAYS BRANDS MUST 'BE BALANCED' AND 'STAND UP FOR YOUR VALUES'Molson Coors increased volume and net sales in all its largest markets, including the U.S., Canada and the U.K., while reaching its best quarterly brand volume trend since 2008. The company also added 12,000 new tap handles for its growing consumer base, with some distributors reporting as much as 50% in growth throughout the quarter. CORONA LIGHT, COORS LIGHT GAIN TRACTION OVER BUD LIGHT"We will invest heavily in our momentum," Hattersley said on the call.With a new stake in market share, Molson Coors lifted its 2023 financial guidance and expects a high single-digit increase in net sales versus 2022 on a constant currency basis. The previous guidance predicted a low single-digit increase.Molson Coors shares are up roughly 30% year to date.GET FOX BUSINESS ON THE GO BY CLICKING HEREIn stark contrast, shares of Bud Light parent company Anheuser Busch are roughly 10.7% lower than the last quarter and almost 5.3% in the red since Jan. 1. Related Stocks: Molson Coors Brewing