\u0022Inflation is a reality, and we need to adjust our pricing to that reality.\u0022
“The only thing you need to do is to look at the external environment, and you know that we have no other option than to increase the prices of beer,” president Frederic Landtmeters said Wednesday in an interview at the company’s new Longueuil brewery.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Molson Coors said in August it expects “inflationary pressures” in areas such as input materials and transportation costs to weigh on profit margins in the second half of 2022. As a result, CEO Gavin Hattersley the company would boost U.S. prices by an average of three to five per cent in the fourth quarter, depending on the region. He did not discuss pricing plans for the Canadian market.Article content
About 80 per cent of the company’s revenue — and more than 90 per cent of pretax income — comes from the Americas.slowed to seven per cent in August thanks to lower gasoline prices and slowing shelter costs, Statistics Canada said Sept. 20. Prices for food purchased from stores nevertheless soared 10.8 per cent, more than triple the 3.5 per cent increase posted by alcoholic beverages, tobacco and recreational cannabis.
“Beer has been a category so far that has been relatively modest if you compare it to other food and beverage categories,” Landtmeters said. “It’s fair to say that we have scenarios for various inflationary evolutions. We’re looking at forecasts from the big banks. We need to be prepared for every possibility. We need to make sure that our prices are the right ones.”Article content
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