More on MillerCoors Tough First Quarter

Dear Client: MillerCoors had already reported highlights from their first quarter a few weeks ago (see BBD 04/18/2013 ), with 12 month STRs through March down 2.0% and a 3.3% volume decline in the quarter, trading day adjusted. Coors Light even turned negative, down low single digits, and we saw a high single digit decline in Miller Lite. On a conference call with analysts, MillerCoors' brass gave more color, announcing that premium and above brands drove a 4% increase in