Dive Brief:
- SABMiller, the world's second-largest brewer, said revenue rose 4% in the fiscal third quarter, despite lagging sales in the U.S. and Europe.
- Sales to retailers at the company's U.S. unit, MillerCoors LLC, dropped 1.9% as sales of Miller Light and Coors Light continued to decline.
- The biggest boost for the company came in Africa, where sales rose 6%.
Dive Insight:
SABMiller's earnings this quarter aren't dramatically different than last quarter, and that has us a little worried. SABMller today warned again that depreciating currencies were hurting results. As we noted last quarter, we're worried that could lead to further job cuts in places where growth is hard to come by — like the U.S.
Here's hoping some of the company's newer offerings here in North America can find their legs.
