date:May 12, 2014
percent. Third-party contract brewing volumes were down 4.5 percent.
Total COGS per barrel increased 3.8 percent, driven by commodity and brewery inflation, lower volume, and higher costs associated with brand innovation.
Marketing, general and administrative costs decreased by 6.4 percent. The decrease was driven primarily by timing of media investments and lower employee-related expenses.
MillerCoors achieved $42 million of cost savings in the first quarter, primarily related to procuremen