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Friday, January 16, 2009
MILWAUKEE — Even the brewing industry is starting to go flat in the worldwide economic slump.
SABMiller PLC, the London-based brewer of Grolsch, Miller Genuine Draft and Peroni Nastro Azzurro lagers, said on Thursday its beer shipments fell unexpectedly in the third quarter as consumers pulled back on their demand.
Carlsberg A/S, the Copenhagen-based maker of Carlsberg beer, said it was cutting 274 jobs to save on costs due to a future "where we face more uncertainties and risks," the company said in a statement.
Beer usually holds up better than other categories during tough economic times, said Benj Steinman, editor of trade publication Beer Marketer's Insights, and that trend had been holding true during this recession for some segments of the industry. But the latest figures show the market is trending downward, perhaps accelerating as global economies continue to sputter, and relief seems uncertain.
Beer is "recession-resistant, not recession-proof," Steinman said.
SABMiller said lager volumes fell 1 percent in the three-month period that ended Dec. 31, compared with the same period a year earlier, because of the economy.
FOXNews.com - Beer Sales Go Flat in Worldwide Economic Slump - Local News | News Articles | National News | US News
MILWAUKEE — Even the brewing industry is starting to go flat in the worldwide economic slump.
SABMiller PLC, the London-based brewer of Grolsch, Miller Genuine Draft and Peroni Nastro Azzurro lagers, said on Thursday its beer shipments fell unexpectedly in the third quarter as consumers pulled back on their demand.
Carlsberg A/S, the Copenhagen-based maker of Carlsberg beer, said it was cutting 274 jobs to save on costs due to a future "where we face more uncertainties and risks," the company said in a statement.
Beer usually holds up better than other categories during tough economic times, said Benj Steinman, editor of trade publication Beer Marketer's Insights, and that trend had been holding true during this recession for some segments of the industry. But the latest figures show the market is trending downward, perhaps accelerating as global economies continue to sputter, and relief seems uncertain.
Beer is "recession-resistant, not recession-proof," Steinman said.
SABMiller said lager volumes fell 1 percent in the three-month period that ended Dec. 31, compared with the same period a year earlier, because of the economy.
FOXNews.com - Beer Sales Go Flat in Worldwide Economic Slump - Local News | News Articles | National News | US News
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