Beer sales decline at MillerCoors

SABMiller plc and Molson Coors Brewing Company reported that MillerCoors LLC’s third quarter underlying net income, excluding special items, decreased 14.1 percent to $286.9 million vs. the third quarter of 2010, driven by a weak economy, low consumer spending and commodity inflation.
MillerCoors, which operates a brewery in Milwaukee, reported that its total net sales decreased 2.5 percent to $1.965 billion
Premium Light sales to retailers were down low-single digits, as Coors Light grew low-single digits, Miller Lite declined mid-single digits and MGD 64 declined double digits.
Tenth and Blake Beer Company in Milwaukee grew the MillerCoors Craft and Import portfolio by 17.2 percent in the quarter, driven by double-digit increases in Blue Moon and Leinenkugel’s. The company continues to drive success with its seasonal craft brand extensions, such as Blue Moon Summer Honey Wheat and Leinenkugel’s Summer Shandy. Peroni Nastro Azzurro also delivered good growth in the mid-single digits.
"Despite the toughest headwinds we’ve seen as a company, we slightly improved our sales to retailer trend this quarter vs. last quarter and continued to deliver our cost savings commitments," said MillerCoors chief executive officer Tom Long. "We remain focused on driving profitable top-line and share growth with a strong and steady commitment to our brands."