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Coors up 1.1m barrels.

Coors up 1.1M barrels

Coors Brewing Co. last week announced record beer sales for fiscal 1989, surpassing 1988's record year by more than 1.1 million barrels.

For the 53-week fiscal year ended December 31, 1989, the company reported sales volume of 17,698,000 barrels, a seven-percent increase over the 16,534,000 barrels shipped during the 52-week fiscal year 1988. Shipments during the 13-week fourth quarter of 1989 also posted a record, increasing 32 percent, to 4,394,000 barrels.

"We are delighted with the strong performance of our brands in 1989, particularly Coors Light, which surpassed the 10-million-barrel mark before year-end," said Peter Coors, president, Coors Brewing Co. "This phenomenal growth of more than 15 percent made Coors Light the fastest growing premium light beer in America last year, and all indicators suggest that this trend will continue.

"We are also excited about the success of our new brands, Keystone and Keystone Light," Coors added. "These popular-priced brands, which were introduced nationwide last fall, strongly impacted our record fourth-quarter shipments."

Additionally Coors noted that "while we are extremely pleased by recent trends in beer shipments, we expect intense price competition and higher packaging costs in the beer industry to place continued pressure on earnings."
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Publication:Modern Brewery Age
Date:Jan 22, 1990
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