Molson Coor's Gets Banged Up in HockeyIssue 11-19-12 |
Beer sales are down in Canada as a result of the National Hockey League's labor dispute. Molson Coors, the official beer sponsor of the NHL as well as 17 individual teams, has seen its Canadian revenue dip 9 percent over last year for the first four weeks of the quarter. Other brewers are also seeing decreased consumption in arenas as well as bars and restaurants near arenas or where fans might gather to watch a game. In addition, home consumption is down.
Thus, a labor dispute that involves a league based in the U.S. and comprised mostly of U.S.-based teams is impacting beer sales in a neighboring country. Molson Coors is likely to seek compensation from the NHL as a result.