Molson Coors cuts forecasts as beer demand hurt by tariff-led recession worries
(Reuters) -Molson Coors cut its annual forecasts for sales and profit on Thursday, in anticipation of a hit to demand for its Coors and Miller beer brands as consumers cut back discretionary spending due to tariff-led recession worries. The company, which is in search of a new CEO, also missed market expectations for its first-quarter results, sending its shares down about 8% in early trading. U.S. consumers have been paring back on discretionary spending such as alcohol amid elevated prices, with flip-flops in U.S. trade policy stoking recession worries.