Denver-based Molson Coors finished 2015 on a sour note; the company reported its profit fell 65 percent in the fourth quarter.
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Name brand beers like Coors and Miller still dominate in terms of volume – but their share of the market is falling steadily. Consumer preferences are shifting rapidly to smaller craft beers. So Molson Coors, along with its joint venture MillerCoors, have poured money into marketing campaigns that highlight the heritage of their brands.
But it wasn’t enough. Economies around the globe are slowing. And that, coupled with a strong U.S. dollar, continued to erode sales and profit for Molson Coors. Sales fell 14 percent last year. And the company reported year-end profits in 2015 were down about 31 percent.