Analysis

Focus - MillerCoors' Q3 results by Brand

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Yesterday, MillerCoors reported a near-8% lift in year-to-date net profits thanks in part to a healthy third quarter. Here, we take a look at the company's brand performance in the quarter:

MillerCoors reported its Q3 results yesterday

MillerCoors reported its Q3 results yesterday

The joint-venture's 'premium light' stable reported a mid single-digit fall in sales to retailers (STRs) in the three months to the end of September. Coors Light fell by mid single-digits, with Miller Lite dipping by low single-digits. Coors Light Summer Brew, which was available only during the summer, upped its market share of premium light by 0.4 share points. The extension will return next year in 12oz cans and singles.

Citing Nielsen figures, MillerCoors said that Miller Lite held its share of segment in Q3.

The 'above premium' portfolio saw STRs rise by mid single-digits, driven by the Redd’s franchise, Smith & Forge, Miller Fortune and craft brands Blue Moon Belgian White and Leinenkugel’s Summer Shandy. Redd's was flagged as being the fastest FMB brand in the US and grew by double digits. Smith & Forge posted slight growth an will roll out as a draught offering in the US on-trade in the coming weeks. The brewer “strategically deprioritised” the Henry Weinhard’s and Batch 19 brands: Consequently, both declined by double digits.

Celebrating its 20th anniversary next year, Blue Moon grew by low single-digits in Q3. Leinenkugel's low single-digit performance was driven by the Summer Shandy extension, which grew double digits in the quarter. The performance of Leinenkugel’s Heritage portfolio was described as “soft”.

In 'premium regular', which was down by mid single-digits, Miller Genuine Draft suffered a double-digit decline in the quarter. Coors Banquet fell by low single-digits. The brand's 'stubby' heritage bottle, which was rolled out in the corresponding quarter a year ago, will be expanded into 12-, 18-and 20-packs nation-wide next year.

Finally, MillerCoors 'below premium' segment was down by mid single-digits, with Keystone Light and Milwaukee's Best struggling markedly in the period. Miller High Life also fell, by low-single digits. Steel Reserve was up by mid-single digits, thanks partly to the Steel Reserve Alloy FMB range.


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