Molson Coors Beverage Co. reported a net loss US$590.5 million in its latest quarter, down from a profit of US$80 million in the same period a year ago.
Molson Coors products Molson beer, left, and Coors Light beer are displayed in Walpole, Mass., on November 28, 2017. in its latest quarter, down from a profit of US$80 million in the same period a year ago.
The Colorado and Montreal-based company says the loss was due to a non-cash US$845-million partial goodwill impairment charge during the three months ended Dec. 31. Net sales were US$2.63 billion in the company's latest quarter, up 0.4 per cent from US$2.62 billion a year ago.
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