Molson Coors Says World Cup Brought Industry Competition
Dow Jones08-06
1111 ET - Molson Coors says the positive impact from the World Cup varied across geographies and sectors due to extra competition. "High-industry anticipation increased competitive pressure everywhere," Chief Executive Rahul Goyal tells analysts on a call. The event also resulted in a lot of promotions in the U.K. and Europe, Goyal says. Molson Coors invested incrementally into World Cup host cities to drive brand awareness. However, the tournament didn't bring the same boost for off-premise beverages, or packaged drinks that are sold at retail locations like grocery stores, gas stations and liquor stores.
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