Latest news with #Staropramen
Yahoo
05-08-2025
- Business
- Yahoo
Molson Coors lowers sales, profit forecasts again
Molson Coors Beverage Co. has again cut forecasts for closely-watched sales and earnings metrics as volumes in EMEA and APAC missed Wall Street expectations. The Madri brewer said today (6 August) it now expects its net sales to fall by 3-4% on a constant-currency basis in 2025. In May, when Molson Coors last lowered its guidance, it forecasts a 'low single-digit decline'. The US giant issued new projections for its underlying income before income taxes and underlying diluted earnings per share. The Staropramen owner sees its underlying income before income taxes decrease 12-15% this year, once exchange rates are removed from calculations. It had forecast a 'low single-digit' fall. Molson Coors expects its underlying diluted EPS to be 7-10% lower in 2025, again compared to a low single-digit decline it had previously projected. 'As a result of the anticipated ongoing macroeconomic impacts on the industry, our lower-than-expected US share performance, and higher-than-expected indirect tariff impacts on the pricing of aluminum, in particular the Midwest Premium pricing, we have adjusted our 2025 full year top and bottom-line guidance,' president and CEO Gavin Hattersley said. The new guidance came alongside Molson Coors' second-quarter results, which included lower net sales, volumes and operating income – although net income grew slightly. The volumes from Molson Coors' combined EMEA and APAC division came in below Wall Street expectations, falling 7.8%. The company pointed to 'soft market demand and a heightened competitive landscape'. In the Americas, Molson Coors' volumes dropped 6.6% in the second quarter amid lower brand volumes in the US and the end of a contract brewing deal. The decline was better than analysts had forecast. 'We continue to view the incremental softness in the industry performance this year as cyclical, and we continue to believe in Molson Coors' ability to achieve its long-term growth objectives,' Hattersley added. 'That said, our second-quarter financial results were impacted by the macroeconomic environment and its broad effects on the beer industry and consumer, our softer US share performance, as well as the resulting impact of volume deleverage.' Hattersley plans to leave the US beer major by the end the year, the group said in a statement on 14 April. He has headed the Aspall cider brewer since 2019. 'Collectively, we have held most of the share gains over the last three years for our core US power brands – Coors Light, Miller Lite, and Coors Banquet. We remain committed to our premiumisation plans: in EMEA and APAC behind the strength of Madri, in Canada with continued growth in Miller Lite and our flavour portfolio, and in the US with Peroni and our partnership with Fever-Tree as well as continued focus against Blue Moon,' he said. In the second quarter to 30 June, Molson Coors' net sales fell 1.6% to $3.2bn, or by 2.6% on a constant-currency basis. Financial volume – which represents Molson Coors' owned or 'actively managed' brands – fell 7%. Operating income decreased 2.7% to $583.6m. Net income attributable to Molson Coors grew 0.2% to $428.7m. Bernstein analyst Nadine Sarwat said: 'Molson Coors' Q2 print beat estimates, led by the US. Looking through the noise of lost US contract brewing and favourable US shipment timing, one number stands out: US brand volumes growth of 'just' -5.3%, better than Nielsen-tracked channels of -7.2% for the same period. 'Yet the rest of the release makes for grim reading. 2025 guidance was cut, which was expected given consensus levels today. Yet the cut has gone below consensus expectations.' "Molson Coors lowers sales, profit forecasts again" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
.jpeg%3Fwidth%3D1200%26auto%3Dwebp%26quality%3D75%26trim%3D204%2C0%2C129%2C0%26crop%3D&w=3840&q=100)
Scotsman
30-05-2025
- Entertainment
- Scotsman
I tried Dublin Street Social and had the best brunch I've had in a long time
Since opening last month, Dublin St Social has proven popular with customers thanks to its brunches and small plates. So we thought we'd pop along and see what all the fuss was about. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The bar-bistro is just a short walk from Princes Street, making it really handy if you want to avoid the super busy areas of the New Town. It has a great outdoor seating area that would be perfect for sitting with a drink and watching the world go by, but instead I headed inside to see how their food fared. Offering both small plates and a brunch menu, there's plenty to choose from. Because it was a solo visit, I picked the Scottish Stack from the brunch menu and I have to say it was one of the best Scottish breakfasts I've had in a long time. Advertisement Hide Ad Advertisement Hide Ad At £14, you are paying a premium for that quality, but it's worth it if you're looking to treat yourself. The stack had a good portion of bacon, black pudding, haggis, a tattie scone and a sausage patty all topped with an egg that's cooked to your liking. Inside Dublin St Social bar and bistro in Edinburgh's New Town. | Dublin St Social I'm generally quite fussy when it comes to black pudding and extremely fussy when it comes to things like a sausage patty, but on both fronts you could tell just how good the quality was. The egg, which I chose to be fried, was also cooked really well and not over done as can often be the case. I washed it down with a Staropramen, which I picked from a long list of lagers - I counted around half a dozen from the list that the waiter offered - with all of them premium lagers, except the old faithful Tennent's. Advertisement Hide Ad Advertisement Hide Ad If I'd have been choosing from the sharing plates, I'd definitely have been struggling to pick just a few. They've got a great selection, including chorizo and manchego croquettes and a cider-braised pork cheek and Stornoway black pudding bon bon. The vibe of the restaurant felt quite laid back, however it was around lunchtime when I visited and it was on the quiet side. It's easy to see how, on an evening that was full that it could have a completely different vibe. The staff inside were super friendly and helpful, which goes a long way. So I'd definitely say Dublin St Social is one to add to your list. Speaking shortly after opening, owner Anna McShane, 23, said that she hoped that the intention was to offer good food at a good price, and if my first visit was anything to go by then I'd say she has achieved that. Advertisement Hide Ad Advertisement Hide Ad She said: 'We offer nice, well-priced small plates with wines to suit the food. It's very good food at very good prices and the location is phenomenal, with outside seating for 14 people also. 'It's a nice offering here, with a great range of beers too, not just wine. All the food is Scottish produce, we try to do as much as possible to support local businesses. We are very Scottish-orientated, apart from the wine of course.' Dublin Street Social 26B Dublin St, Edinburgh EH3 6NN
Yahoo
08-05-2025
- Business
- Yahoo
Molson Coors cuts sales, profit forecasts after Q1 declines
Canadian-American brewer Molson Coors has cut its sales and profit forecasts for 2025 after a challenging first quarter. The Cobra, Staropramen and Carling producer is forecasting low single-digit year-on-year decreases in net sales on a constant-currency basis and underlying (non-GAAP) income before income taxes. In February, Molson Coors had forecast its sales by that metric would rise at a low single-digit rate in 2025. It was also projecting a mid single-digit increase in underlying income before income taxes. The new forecasts came as the company reported an 11.3% fall in net sales in the first quarter to $2.3bn. It also posted a 49.3% fall in underlying income before income taxes to $131.1m. "We have adjusted our 2025 guidance for certain key financial metrics due to the impacts of the global macroeconomic environment on the beer industry and consumer trends," the company said. CEO Gavin Hattersley added: "The macroeconomic environment and its broad effects on the beer industry and consumer, as well as competitive pressures in EMEA & APAC, impacted our financial results in the first quarter. "The global macroeconomic environment is volatile. Uncertainty around the effects of geopolitical events and global trade policy, including the impacts on economic growth, consumer confidence and expectations around inflation, and currencies has pressured the beer industry and consumption trends. Given the uncertainty is ongoing, we have adjusted our 2025 full year guidance." Hattersley noted "expected headwinds" in the first quarter, including cycling the prior year's US inventory, the discontinuation of contractual brewing arrangements in the Americas and transition fees relating to its deal for a stake in 8.5% stake in UK-based tonic and mixer maker Fevertree Drinks. It acquired the stake in January for £71m ($88.3m), which Fevertree has called a 'long-term strategic partnership'. Hattersley plans to leave the US beer major by the end the year, the group said in a statement on 14 April. He has headed the Aspall cider brewer since 2019. "Molson Coors cuts sales, profit forecasts after Q1 declines" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-01-2025
- Business
- Yahoo
Coors Light® Announcing First-Time Partnership with Metrolinx to Sponsor Free Rides Home on GO Transit and UP Express after the Toronto Raptors Game on January 31, 2025
Free Ride Home Program Aims to Promote Safe Celebrations in the Greater Toronto Area TORONTO, Jan. 27, 2025 /CNW/ - In a collaborative effort to promote safer roads across the Greater Toronto Area (GTA), Molson Coors is excited to offer free post-game transit rides for Raptors fans and anyone using GO Transit and UP Express services on January 31, 2025, between 9:00 p.m. and 11:59 p.m. EST. This is the first time Coors Light is leading this initiative in Toronto. "Sports and entertainment are integral to the vibrant social life in the GTA, and we are dedicated to helping ensure that these experiences are as safe as they are enjoyable," said Chantalle Butler, President, Molson Coors Canada. "Coors Light is proud to partner with Metrolinx to provide free rides home, empowering attendees to prioritize safety and make responsible choices after a night of celebration." This partnership underscores the critical role of safe transportation after games, concerts, and events in the city. By offering free rides home after the Raptors game on January 31 when the team takes on the Chicago Bulls, Molson Coors reinforces its commitment to promoting responsible celebrations and community safety, as they celebrate 30 years of partnership between the Raptors and Coors Light this season. Fans can check schedules and plan their return trip home at and websites. About Molson Coors Beverage Company: For more than two centuries, Molson Coors has brewed beverages that unite people for all life's moments. From Coors Light, Miller Lite, Molson Canadian, Carling, Madrí Excepcional and Staropramen to Coors Original, Blue Moon Belgian White, Vizzy Hard Seltzer, Coors Seltzer, Simply Spiked Lemonade, ZOA Energy, Creemore Springs and more, Molson Coors produces some of the most beloved and iconic brands in the beverage industry. While the company's history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle with energy drinks, bottled spirits, ready-to-drink cocktails, cider and more. To learn more about Molson Coors Beverage Company, visit About Metrolinx: Metrolinx, an agency of the Government of Ontario, was created to improve the coordination and integration of all modes of transportation in the Greater Toronto and Hamilton Area. Metrolinx is undertaking the most extensive transportation investment in Ontario's history to get you where you need to go better, faster, and easier while also operating GO Transit, UP Express and PRESTO. We have a unique opportunity to plan, build, operate and connect transportation in the Greater Golden Horseshoe. For more information visit: Media Contact: Samantha Krupa-Carbone, NATIONAL Public Relations, skrupa-carbone@ SOURCE Molson Coors Beverage Company View original content to download multimedia: Sign in to access your portfolio
