J P M O R G A N Europe Equity Research 18 August 2026 European Beverages US Circana: Alcoholic beverage sales return to negative trajectory This report is based on analysis of the latest Circana data (4-wk period ended 09- Aug-26) covering the US Beverages market ex-Liquor Stores. Company sales and volume growth figures represent total performance across all product categories unless otherwise stated. In the latest four-week period, US alcoholic beverages sales were -1.8% (prior 4wks +0.2%) with volumes -3. ...