Carlsberg sales dip due to pub closures during lockdown
Carlsberg sales dropped in the first quarter and the brewing giant warned a further decline is expected over the next few months due to the closure of bars and restaurants during coronavirus lockdowns.
The brewer said sales dropped seven per cent between January and March, and would continue to fall in the second quarter due to lockdowns in Europe.
An increase in supermarket sales failed to offset the impact of bar, pub and restaurant closures. Carlsberg said it was starting to see signs of recovery in China but said social distancing measures would impact sales.
Carlsberg said sales in the first quarter were 12.9bn Danish crowns, compared with 12.8bn expected by analysts in a poll compiled by Carlsberg.
Its price/mix, which indicates whether the company sold more or less of its expensive beer, was unchanged in the three months.
Chief executive Cees t’Hart said: “Our businesses in all markets are impacted to a greater or lesser extent.
“While we’re starting to see signs of recovery in our largest market, China, and initial signs of governments cautiously lifting restrictions in some Western European markets, other markets remain in lockdown.
“Nevertheless, social-distancing requirements will continue and will impact consumer behaviour. Consequently, volumes will decline further in the second quarter.”