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Dear Client: Rahul Goyal’s first earnings call as Molson Coors CEO went well over an hour, wherein Rahul fielded questions on their impairment charge in the quarter, potential M&A, his mandate from the Board, and more. Let’s dig in. In the quarter, the company recorded an eye-popping non-cash partial goodwill impairment charge of $3.6 billion, and non-cash intangible asset impairment charges of $274 million. Naturally, callers wanted to know more. BofA Securities’ Peter Galbo asked: What happened? Rahul acknowledged “a
Bad to Worse: October BPI Hits a New All Time Low; Scans Dismal
Dear Client: It’s gone from bad to worse. The composite Beer Purchaser Index number for October hit a new all-time low, 24, just a couple of months after August’s all-time low of 27. September’s reading was 28. NBWA said the reading reflected “continued uncertainty surrounding fourth quarter retailer and consumer demand.” To wit, at-risk inventory rose above the 50 mark to 51, from 48 in September. “Individual segment readings showed little deviation from the September index,” per NBWA, with all
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