Tom: Craft Has Lots of “Virtual Consumption”

August 6, 2013Dear Client: MillerCoors hosted a trading update this morning to add color to their second quarter. Recall that MillerCoors' STRs were down a distressing 4.4% with shipments down 5.3%. That puts MC STRs down around 3.8% for the first half. Price per barrel up 2.6%. Tough quarter, but their Tenth & Blake and above premium brands fared very well, with their above premium brand volumes representing more than 9% of their portfolio in the quarter . That's an