Latest news with #beerSales
The Independent
02-07-2025
- Business
- The Independent
Modelo and Corona sales drop amid Trump's immigration crackdown
Constellation Brands, maker of Modelo and Corona beers, reported a two percent drop in beer sales during the second fiscal quarter of 2025. The company attributes the sales decline primarily to fears among Hispanic consumers regarding Immigration and Customs Enforcement (ICE) Deportation activities. CEO Bill Newlands stated that Hispanic customers, who account for about half of the company's beer sales, are reducing social occasions where beer is consumed due to these fears. Additional factors contributing to Constellation Brands' lower-than-expected earnings include tariffs on aluminum imposed by the Donald Trump administration. Other companies, such as Coca-Cola, have also reported sales declines partly due to weakening consumer sentiment among Hispanic consumers, linked to the administration's immigration crackdown.
The Independent
30-06-2025
- Business
- The Independent
Pubs reveal how many extra pints they expect to pull during Euro 2025
Pubs across the UK are anticipating a significant economic uplift this summer, with the Uefa Women's Euros expected to drive millions of additional pint sales, according to a leading trade body. The British Beer and Pub Association (BBPA) projects that establishments could pull an extra 2.6 million pints during the tournament. This estimate is based on an anticipated surge in beer sales during matches compared to the annual daily average. The competition kicks off in Switzerland on 2 July, with England's Lionesses and Wales playing their opening fixtures just days later, on 5 July. Further boosting potential custom, pubs may also be granted extended opening hours should England or Wales advance to the final stages of the competition. The BBPA, whose members brew 90 per cent of British beer and own nearly half of UK pubs, said this could deliver a £13 million boost to the economy. Furthermore, pubs could be allowed to stay open beyond their usual closing time if either of the two countries reach the semi-finals or final of the Euros, which will take place towards the end of July. Emma McClarkin, chief executive of the BBPA, said: 'The pub has forever been regarded as a home away from home, especially for sports fans, so it's no surprise that fans will be flocking to the pub to cheer on our brilliant teams.' However, Ms McClarkin renewed calls for the Government to 'level the playing field and reduce beer duty', with England and Wales paying the fourth-highest tax rate compared with other nations competing in the tournament, she said. Alcohol duty is paid by manufacturers when they make their products, and the duty is generally then passed on to consumers through prices. Duty on draught pints was cut by 1.7 per cent earlier in the year – meaning a penny off a pint in the pub.
