ABI reported strong global earnings this morning and even solid US results in terms of earnings and margins. But its volume issues here in US got more significant last 12 weeks, latest batch of IRI data shows. In very tuff overall mkt down 2% last 12 weeks thru Jul 16, Bud Light down 8.4% in IRI multioutlet + convenience, in period including Memorial Day and July 4. Can’t recall ever seeing extended trends like that before. Bud Light brand down 1.3 share of volume last 12 weeks. Bud down 7.5% too. Each of Coors Light and Miller Lite down 3.3-3.4%. Top 4 brands lost 1.9 share of volume last 12 weeks.
Total AB biz down 4.5%, lost 1.3 share in IRI MULC. Constellation up 11.5% and gained 1.1 share. But Constellation only top 7 supplier that grew last 12 weeks. MillerCoors down 2.8%. Heineken USA down 2%, Pabst down 5.5% and Boston down 4.3% last 12 weeks. For each of Pabst and Boston, those trends an improvement from yr-to-date. Mike’s slowed to 3% gain for last 12 weeks, while Diageo Beer Co volume up 10.6%.