Call a cab... Molson Coors' night is over after shares fell 7% following its earnings report. The volume of alcohol it sold dropped 4.7% worldwide — That's its 6th-straight quarterly decline. One small piece of dignity salvaged: Coors light showed "improvement."
Innovation cravings... Molson's feeling them. A highlight in the report was the brewer's goal to introduce non/low-alcohol drinks to 100% of its markets by 2025. Here's who's making moves:
- Alt-Beer: "Arnold Palmer Spiked" is its new 5% ABV drink that enjoyed “rapid growth” last quarter (no word on what this "malt beverage" is actually spiked with).
- Tap Ventures: Molson's venture capital arm already bought a California kombucha and invested in chai tea within the last year.
- Cannabis drinks: Pot is legal in Canada, but the edibles laws are a bit hazy. So Molson confirmed its cannabis-infused drink lineup will arrive this fall once regulations get all cleared up.
Beer is a shrinking market... Alcohol sales are slipping nationwide, but beer demand dropped the most (down 1.5% last year). Since the size of the liquid pie is shrinking, Molson's task of getting someone to drink their beer requires converting drinkers of the competition. Unfortunately, Bud spends a ton on beer advertising, and Corona has (almost) caught Coors in sales.