Heineken Improves in March but Not “Out of the Woods”

Dear Client:In its trading update yesterday, Heineken NV said volumes in the US improved in March but only after a tough January and February. Rene Hooft Graafland, cfo of Heineken NV noted that the "economic environment continues to have an effect on beer consumption," particularly at the on-trade. "Low consumer confidence continues" in the US, resulting in consumers trading down "to lower price beers," said Rene. Weather didn't help either. Parts of the US and Europe experienced "unusually cold winter