MillerCoors’ Profits Fall As Coors Light Sales Decline
MillerCoors has reported another steep decline in profit. The company, which is partly based in Denver, is down about 9 percent compared to the same quarter last year.
MillerCoors still made $344 million in profit last quarter. But sales were down again, this time 3.4 percent.
Coors Light saw sales continue to decline. The company says the brand is in the middle of a packaging redesign.
Miller Lite, the other big beer in their portfolio, saw sales increased slightly. The company credited the roll out of throwback packaging.
Executives said they probably won’t stem the tide of declining sales for years. They predicted volumes would increase by 2019.
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