Molson Coors Beverage Co

Miller, and Coors a products are displayed October 9, 2007 in Chicago, Illinois.Scott Olson | Getty ImagesBrewer Molson Coors said on Tuesday that it expects to maintain its market share gains in the year ahead.The company, which makes Coors Light and Miller Lite, reported strong fourth-quarter earnings on Tuesday as net sales for 2023 grew 9.3%. Those revenue gains were in large part tied to consumers migrating away from AB-InBev's Bud Light products after boycotts began last April."Molson Coors was well positioned to…

Doug McMillon, president and CEO of Walmart Inc. Corporation, participates in a Business Roundtable discussion on the"Future of Work in an Era of Automation and Artificial Intelligence", during a CEO Innovation Summit, on December 6, 2018 in Washington, DC.Mark Wilson | Getty Images"Choiceful" doesn't exactly roll off the tongue, but chief executives love it.It's how Walmart CEO Doug McMillon described the average consumer, who is trying to cut back on spending but is still willing to splurge on what's worth it.McDonald's…

A bartender creates specialty cocktails made with Casamigos at the opening party for Alo Miami on December 16, 2021 in Miami, Florida.Jason Koerner | Getty ImagesCHICAGO — The spirits industry is overcoming economic headwinds to meet changing consumer preferences as it chips away at the dominance of beer.Spirits revenue market share grew from 28.7% in 2000 to 42.1% in 2022, surpassing beer for the first time ever, according to the Distilled Spirits Council of the United States. Beer holds a 41.9% market share, it said.The…

Beer isn't as much of a bargain as it used to be.Americans are drinking fewer brews, and the sector is steadily losing market share to spirits. Beer companies, faced with rising operating costs in areas like packaging and transportation, have raised prices and seen bigger profits, with consumers footing the bill.The price of beer bought at retail locations such as grocery stores rose 5.9% for the 12 months through April 2023 compared with the prior year, according to data from the Bureau of Labor Statistics. The rate…

A customer passes by the brewery section at an H-E-B grocery store on March 02, 2023 in Austin, Texas. Budweiser owner AB InBev is the largest brewer in the world.Brandon Bell | Getty Images News | Getty ImagesBudweiser-owner Anheuser-Busch InBev on Thursday reported a jump in profit for the first quarter, saying the beer industry had proved resilient despite inflationary pressures.The Belgium-based brewing giant — the biggest in the world — reported core profit of $4.76 billion, up by 13.6% from the first quarter of…

The entrance from the elevators, designed to resemble a tunnel entering a stadium, is pictured at the new DraftKings office in Boston.David L. Ryan | The Boston Globe via Getty ImagesDraftKings is eliminating 140 jobs, or about 3.5% of its workforce, as part of a reorganization.The stock rose about 3% on Thursday.The sports betting giant said it is increasingly focused on making its operations more efficient."We are constantly evaluating our teams to ensure they are best positioned to meet our company goals in 2023 and…

Zoom In IconArrows pointing outwardsMolson Coors and Draft KingsMolson Coors is teaming up with online sports betting company DraftKings in a marketing campaign that allows viewers to place wagers on the beer company's upcoming Super Bowl commercial, the companies said Monday.The partnership marks Molson Coors' return to the Super Bowl after a hiatus of 33 years, according to the company. Molson Coors, which makes Coors Light and Miller Lite, said it has been unable to advertise during the game since 1989 due to an…

The Chicago-based company had long been kept out of the Super Bowl because rival Anheuser-Busch InBev BUD -1.79% NV had exclusive rights to be the sole alcohol brand to be featured during the game, which it gave up last year. In anticipation of its return, Molson recently ran print, online and outdoor ads asking consumers which of its two light beers—Miller Lite or Coors Light—deserves the brewer’s coveted Super Bowl spot. The buildup has been part of an elaborate Super…

Tesla charging stations at a car showroom in the morning light. The expansion of the charging infrastructure is still not progressing as desired. Jan Woitas | Picture Alliance | Getty ImagesCheck out the companies making headlines in midday trading.Tesla – Shares of Tesla shed 13% after the company announced fourth-quarter vehicle deliveries that fell short of Wall Street's expectations. The electric vehicle maker delivered 405,278 cars in the fourth quarter, where the median analyst estimate was around 427,000, according…

A Tesla vehicle is displayed in a Manhattan dealership on January 30, 2020 in New York City.Spencer Platt | Getty ImagesCheck out the companies making the biggest moves in the premarket:Tesla — Shares fell 5% after reporting a record 40% growth in deliveries. However, the numbers missed analyst expectations. JPMorgan analyst Ryan Brinkman cut his price target on the stock Tuesday, saying he sees more downside ahead.related investing newsCoty — The stock rose 2.7% after being upgraded by Piper Sandler to overweight from…