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That’s the total loss in market value, as a Bloomberg gauge of some 50 companies stands 46% below its June 2021 record high.
Shifting drinking patterns and rising health concerns have hit earnings, compounded by US tariffs, the impact of buoyant interest rates on consumer spending and even elevated commodity prices. In China, weak household confidence and a booze ban for official functions have added fuel to the downtrend.
The result is a wave of pressure facing companies behind some of the wo
(Bloomberg) — Shares of the world’s top listed beer, wine and spirits makers have shed a combined $830 billion in a little more than four years as the industry grapples with monumental change.
Carlsberg CARL.A reported a drop in revenue and beer volumes for the third quarter, while maintaining its full-year guidance, as it cited tough consumer sentiment and challenges from the war in Ukraine on its business.
The Danish brewer on Thursday reported a 3% drop in organic volumes for the third quarter to 40.6 million hectoliters, which was below market expectations of 41.6 million hectoliters.
