Molson Coors says it doubled share in the hard seltzer category in the U.S. during Q2 after competitor Boston Beer said it “overestimated” growth.
Molson Coors Beverage Co. is eliminating 11 “economy” brands and discontinuing about 100 SKUs in an effort to streamline its U.S. portfolio and focus on higher-end brands in its lineup.
Molson Coors discussed the portfolio cuts on the call, but the list of discontinued items was announced in an email. In a separate statement, the company also emphasized supply chain flexibility as a reason to shrink the portfolio, a topic that was also brought up on the call. iframe.twitter-tweet { width: 100% !important; } Molson Coors reported second-quarter earnings that beat expectations and the highest sales growth in a decade.
Molson Coors said it doubled its U.S. share of the hard seltzer market during the quarter, amid new Vizzy products showing results, strong Topo Chico Hard Seltzer demand and solid performance in Canada.Anheuser-Busch InBev’s BUD, -0.89% Bud Light is also upbeat about the seltzer business. Andy Goeler, vice president of marketing for Bud Light, told MarketWatch that the brand will launch a number of new products in the coming months in order to take Bud Light Seltzer into the holiday season.
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