A Tough Quarter for Miller

SABMiller released their fiscal fourth quarter (three months ending March) earnings results yesterday, and while SABMiller's global organic beer volume was up 10%, Miller's US sales to retail were down a disappointing 2.3%. Full year STRs were even with last year, but down 3% if you take out new brands (Sparks and Steel Reserve). Miller Lite STRs were down 1% for the full year ending March, while Miller's "worth-more" brands (including Sparks) were up 21% and accelerating in Q4. Miller