(Chicago, IL) – SABMiller reported quarterly earnings on Thursday. As always, the company included numbers for its U.S. joint venture, MillerCoors, as part of the report and they are worse than past quarters and possibly an indicator of weaker overall beer industry performance. More below…
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For the 12 months ended 31 March 2013, MillerCoors’ US domestic sales to retailers (STRs) were down 2.0%, with a 3.3% decline in the quarter to March, on a trading day adjusted basis, amidst weaker industry performance.
Premium light STRs were down mid single digits in the quarter, with a low single digit decline in Coors Light and a high single digit decline in Miller Lite. The premium regular and economy segments both declined by mid single digits.
The Tenth and Blake division saw high single digit growth, driven by Blue Moon and supported by the national expansion of Batch 19. The above premium segment saw double digit growth following the national launch of Redd’s Apple Ale and Third Shift Amber Lager.
Domestic sales to wholesalers (STWs) declined 1.5% for the year ended 31 March 2013, with a 2.5% decline in the fourth quarter.