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☆ Beyond Meat sales slumped because people are eating less fake meat, and the company says it gets why
  + stars: | 2023-02-24 | by ( Grace Dean | ) www.businessinsider.com   time to read: +4 min
The company said it sold around 3,300 fewer pounds of its fake meat products over the time period, a drop of about 17%. Despite the huge slump in sales, Beyond – which sells products including fake jerky, chicken, and sausage – still beat Wall Street sales estimates. According to Brown, the three major obstacles faced by the plant-based meat industry are taste, understanding of health benefits, and price. Consultancy giant Deloitte noted in a September report that plant-based meat sales were dipping. Beyond also offers some plant-based chicken products, including tenders and popcorn chicken.
☆ Fox has sold out its Super Bowl commercials, but economic uncertainty will completely shake up the roster of Big Game advertisers
  + stars: | 2023-02-06 | by ( Ryan Joe | Lara O'Reilly | Lauren Johnson | ) www.businessinsider.com   time to read: +6 min
Buying a Super Bowl can be a big risk because it's a big investment months ahead of the game. Diageo CEO Ivan Menezes said during the company's January earnings call that its brand Crown Royal will run its first Super Bowl ad this year. Anheuser-Busch's move is an indication that the sky-high price of running a Super Bowl ad is getting harder for companies to justify. Bookings typically happen in May, said one ad agency exec who's purchased many Super Bowl ads for clients, including this year. Super Bowl ad slots sold briskly for both Fox this year and NBC last year.
☆ Johnnie Walker maker Diageo tops sales estimates helped by premium brands
  + stars: | 2023-01-26 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Bottles of Johnnie Walker whisky, a brand of Diageo, are seen for sale in Manhattan, New York City, U.S., May 20, 2022. REUTERS/Andrew KellyLONDON, Jan 26 (Reuters) - Diageo (DGE.L), the world's largest spirits maker, beat first-half sales forecasts on Thursday as it raised prices and more people drank premium spirits. The London-based company, which makes Tanqueray gin, Captain Morgan's rum and Ketel One vodka, said organic net sales rose 9.4% in the six months to December 31, beating analyst forecasts for a 7.9% rise. The growth reflected organic volume growth of 1.8%, indicting 7.6 percentage points of higher price growth. Diageo's "premium-plus" brands - which are more expensive than brands such as Smirnoff vodka but under about 50 pounds ($61.92), drove 65% of its organic net sales growth, the company said.
☆ Watch CNBC's full interview with Diageo CEO Ivan Menezes
  + stars: | 2023-01-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Diageo CEO Ivan MenezesDiageo CEO Ivan Menezes joins 'Closing Bell' to discuss repairing supply chain discontinuities, consumer shopping behavior, and ongoing brand strength in premiumization.
☆ Diageo fortunes rest on reviving America’s thirst
  + stars: | 2023-01-26 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Jan 26 (Reuters Breakingviews) - Investors in Diageo (DGE.L) are suffering from fading animal spirits. The share price of the $97 billion drinks company, which makes Guinness and Baileys, slumped 6% on Thursday, even though its 9% net sales growth beat analysts’ expectations of 8%. It’s possible that drinkers are getting more cautious, fearing a possible recession, and tempering their purchases of pricier booze. Sales in North America grew by just 3% year-on-year in the most recent six-month spell, compared with 14% a year earlier. But if the dry spell continues, Diageo shareholders may be nursing a more lasting headache.
☆ Johnnie Walker-maker Diageo beats first-half sales estimates
  + stars: | 2023-01-26 | by ( ) www.cnbc.com   time to read: +2 min
Johnnie Walker is a brand of Scotch whisky now owned by Diageo, which beat first-half sales forecasts. Diageo , the world's largest spirits maker, beat first-half sales forecasts on Thursday as it raised prices and more people drank premium spirits. The growth reflected organic volume growth of 1.8%, indicting 7.6 percentage points of higher price growth. "If you look at the consumer, the consumer is very savvy," Menezes told CNBC. Since the pandemic, Diageo has also benefited from people buying more expensive types of alcohol while staying home under lockdown.
☆ Diageo CEO: Consumer offtake is robust in the U.S.
  + stars: | 2023-01-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiageo CEO: Consumer offtake is robust in the U.S.Diageo CEO Ivan Menezes joins 'Closing Bell' to discuss repairing supply chain discontinuities, consumer shopping behavior, and ongoing brand strength in premiumization.
☆ Fundamentals with our consumer base are strong, Diageo CEO says
  + stars: | 2023-01-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFundamentals with our consumer base are strong, Diageo CEO saysIvan Menezes, CEO of Diageo, discusses the company's 2023 interim results, and says "people are enjoying spirits more than ever, and drinking better, not more."
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