Molson Coors North America Q1 Brand Volumes Up 0.4%, But U.S. STRs Fall 14% in April

Dear Client: Reporting Q1 results this morning, Molson Coors chief Gavin Hattersley said Coronavirus has "disproportionately" affected them as a company. Despite "mounting confidence and enthusiasm for our plans and for our brands" early in the quarter, the virus changed their landscape, obliterating the on premise.  "Specifically, we estimate that approximately 23% of our 2019 consolidated net sales resulted from on-premise consumption, with approximately 17% of our North America net sales ... coming from this important part of the industry,