Heineken will be hoping so as profits get hit by bad weather in the US and Europe. Profits were down 17% for the fisrt half of 2013 despite them boasting of an 8% gain in sales in the three months to July.
The last round of falling sales in the states was attributed to the payroll tax hike and rising youth unemployment (which in the UK is as bullish a signal as you’re likely to get for beer stocks). Forget the jobs market and Adam’s durable goods ex defence ex capital ex bells and whistles data release for seeing the economic picture, Beer will steer you right every time.
