June Roars like a Wet Lamb; Suitcases and 30 Packs only Growing Top SKUs
In the four weeks ending June 14, IRI all-scan case volumes are in the doldrums, down 3.4%. As UBS notes, it's been a terribly rainy wet month. In fact, UBS is lowering MillerCoors volume estimates for the second quarter to -1% from up 0.5% "to account for this weakness. Additionally, we are lowering our pricing estimates by 50bps from 5% to 4.5% y/y as we understand sub-premium trends are continuing to accelerate."