Tag: $Heineken NV

Heineken’s (HEIN) CEO Dolf van den Brink resigned unexpectedly on Monday after six years of leading the Dutch brewer and only a few months after setting its new strategy, as the industry battles to get drinkers buying more beer.

Dutch brewer Heineken (HEIN.AS), welcomed a trade deal between the European Union and the United States and said on Monday that it was weighing all options to deal with growing tariff challenges in the long term, including shifting manufacturing.

Heineken shares soared after the company posted earnings that beat market forecasts and its own guidance, boosted by sales of premium and nonalcoholic beer, and launched a share buyback of $1.55 billion.

Heineken shares opened nearly 7% lower on Monday, after the brewing giant’s first-half profit growth came in weaker than analysts had expected.

Heineken will invest 39 million pounds ($48.9 million) in its Star Pubs chain this year, to revamp and reopen 62 of its recently closed U.K. pubs.

Heineken sold more beer than expected in the first quarter, reporting its first quarterly year-on-year growth in volumes in a year as it stuck to its forecast for profit growth in 2024.

Heineken shares fell on Wednesday after the Dutch brewer reported a slump in the volumes of beer it sold, caused by customers balking at higher prices.

Heineken sold 4.2% less beer in the third quarter, as the Dutch brewer faced a challenging macroeconomic climate and consumers were deterred by higher prices.

Heineken on Monday cut its full-year outlook after reporting a fall in key earnings for the first half, largely due to lower volumes in the profitable Asia Pacific region.

As investors try to assess the fallout on global brewing leader Anheuser-Busch InBev from a backlash against Bud Light, rival Heineken is spending $100 million to promote a new light beer to Americans.