In the latest four-week period, all alcoholic beverage categories excluding RTDs were again in decline, and all categories other than Hard Seltzer deteriorated sequentially. Spirits sales excl. RTDs worsened to -4.1% (prior 4wks -2.8%) with volumes also decelerating further to -4.3% (prior 4wks -3.6%). Spirits sales incl. RTDs grew +0.5% y/y, but slowed versus the previous period (prior 4wks +2.5%), with RTDs growing at +17.6% in the period (prior 4wks +21.4%). Across our coverage, the best performer within ...

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. ...