Canadian beer sales dip due to NHL lockout
November 8, 2012
The NHL lockout not only has fans across the United States and Canada discouraged and frustrated, but Canadian beer companies have been hurting as well, according to The Canadian Times.
When it comes to Canada and hockey, the two seemingly go hand-in-hand. However, without the NHL in place, many fans may be drinking away their sorrows, but they are not going to the various venues to to so.
Beer sales are hurting in Canada more so than they are the U.S., with Coors Light and Molson Canadian seeing the worst of it, according to the news outlet.
"Whether it's people not actually physically going to the venues and consuming there, consuming in venues around the outlet before that, or indeed having NHL sort of parties at home, all of those occasions have disappeared off the map and you just can’t replicate them," CEO of Molson Coors Peter Swinburn told the news source.
According to The Wall Street Journal, the company is bracing itself for a very tough fourth quarter, as they have more to deal with than just the lockout.
"We expect the fourth quarter to be the most challenging of this year, with difficult profit comparisons in Canada and the U.K. and higher costs in the U.S. and Central Europe," Swinburn told the publication.
There may be some hope though, as the NHL Players' Association and the league are hoping to come to a solution by the end of the week, the media outlet reports.