Wine and spirits are outperforming beer, ... It's been a reversal of a decade-long trend.
The positive thing to note is that they actually had improving results as the year went on. But they were going against a very easy comparison -- they were down 3% in last year's fourth quarter.
Its wholesalers are clamoring for high-margin, growth brands. Anheuser has promised to deliver them, but they can't just create them.
I don't think a lot of these new products are big bets. Most of them are experiments in an attempt to address the changing consumer dynamics.
Irrespective of who's right on whether the taste changed, it's a continuation of a campaign Miller has had for two years.
It was a major overhang. The unsettled nature of it was a large potential liability. Settling this, I'm sure, was a priority for them.
It took a while to get into it. It's going to take a while to get out of it.
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