Its wholesalers are clamoring for high-margin, growth brands. Anheuser has promised to deliver them, but they can't just create them.
More Quotes from Benj Steinman:
Wine and spirits are outperforming beer, ... It's been a reversal of a decade-long trend.Benj Steinman
Irrespective of who's right on whether the taste changed, it's a continuation of a campaign Miller has had for two years.
Benj Steinman
There was a general assumption - that is proving somewhat erroneous - that the baby boomers would continue with the consumption patterns that they established in their youth. Instead, they're doing more like what prior generations did as they got older, and switching their drinking habits to wine and spirits.
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The positive thing to note is that they actually had improving results as the year went on. But they were going against a very easy comparison -- they were down 3 in last year's fourth quarter.
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It was a major overhang. The unsettled nature of it was a large potential liability. Settling this, I'm sure, was a priority for them.
Benj Steinman
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