Heineken, the world’s second-largest brewer, has seen signs of a slowdown in demand for its beer – “a beer recession”.
The company made the announcement while reporting its third-quarter sales rose by less than expected.
Heineken shares were down as much as 8.1% in early trading.
“We increasingly see reasons to be cautious on the macroeconomic outlook, including some signs of softness in consumer demand,” Chief Executive Dolf van den Brink said in a statement.
Heineken said it retained its full-year outlook for operating margin to be stable or increase modestly this year.
In Europe, where Heineken is the market leader, warm weather helped to drive sales despite rising inflation.
