Molson Coors revenues fall 9.7% as pandemic restriction hurt sales in key markets

US – US multinational brewing and drink company Molson Coors has recorded a 9.7% decline in first-quarter net sales as on-premise restrictions in key markets hurt sales even as the company “makes progress” against its revitalisation plan. The maker of Coors beer brand posted net sales of US$1.9 billion in the quarter, compared to US$2.1 billion the same time last year. The company attributed much of the decline to restrictions and closures in the on-premise channel, particularly in the UK and Canada. Revenue decline was primarily driven by volume and…

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Kraft Heinz, Keurig Dr Pepper report strong Q1 results buoyed by extended at home consumption

US – Kraft Heinz and  Keurig Dr Pepper, two of America’s most popular food brands have reported strong Q1 results, as sustained at home consumption amid a pandemic maintained the high demand for their goods that started at the onset of the pandemic. As a result, Kraft reported a 2.5% organic growth for the quarter beating estimates that had projected the company to record flat-to-positive organic net sales growth “Our first quarter was better than expected, with our team delivering strong results on top of exceptional growth last year,” said…

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