just The Preview - Beam Inc Q1
Beam releases its Q1 results on Thursday
Beam Inc will release its first-quarter results on Thursday (2 May). Here, just-drinks takes a look at the company's highs and lows in the three months to the end of March.
- Beam started the year with a bottom-line boost; a US$65m sale of its “economy” spirit brands to Luxco. Company CEO Matt Shattrock said the deal “reduces portfolio complexity”.
- The ripples around Beam's misconduct review in India continued to widen as an analyst in February said the ongoing investigation will be a “headwind” at least until Q3. Beam had earlier deflected questions over the review, saying its investigation is “making progress”. A few days later it denied a report that Teacher's had lost market share in the country because of the review.
- All thoughts of India were soon put aside, however, as the company found itself caught in a storm of controversy over its proposal to lower the abv of its Maker's Mark brand. Beam said it had made the decision to help keep pace with rising demand, but was forced into a U-turn after some customers accused it of watering down its products. A PR defense move by the company included the son of the founder of Beam Inc's Maker's Mark countering the claims.
- In March, Beam claimed victory in a trademark dispute over its Pucker flavoured vodka brand. JL Beverage Company had alleged that the use of lips in the vodka logo could be confused with its brand Johnny Love Vodka.
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