The Q3 reports from Miller-Coors states that the flagship products (Coors, Coors Light, MGD, Etc) are all in the decline, while the Tenth and Blake "craft" brands are up.
On overall company health in Q3:
- Net income down 14%
- ďDomestic sales-to-retailers (STRs) were down 2%, a slight improvement from the second quarter. Domestic sales-to-wholesalers (STWs) were down 4.7%. The STW decline was higher than the STR decline due to the timing of shipments year over year.Ē
- Comfortable with current level of pricing/discounting and doesnít see barley costs impacting price in short-term thanks to contracts in-place
- There has been lots of discussion internally around trend of spirits taking sales away from big beer brands
- Early Q4 numbers tracking below Q3 but a lot of variables at play
On Tenth and Blake Beer Company:
- Up 17.2%, driven, in large part, by 24% increase in Blue Moon Brewing sales and increase in Leinenkugelís sales
- Up 50% in Blue Moon and Leinenkugelís seasonal program, highlighting success of Blue Moon Summer Honey Wheat and Leinenkugelís Summer Shandy (latter up 80%)
- CEO, Tom Long, noted that the company had only begun to scratch the surface on the seasonal program
- Peroni Nastro Azzurro delivered 8% growth for quarter, says it is third-fastest growing import in U.S.
- Expects Tenth and Blake to grow along with index of craft category for foreseeable future
- Plans to re-double efforts in growing Tenth and Blake brands in 2012 and is open to re-scaling operations from other brands to Tenth and Blake brands as needed
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Thread: Miller-Coors Q3 reports