Monster Beverage Hit By Falling Convenience Store Foot Traffic
Monster(MNST) Investopedia·2024-08-08 23:41
Key TakeawaysMonster posted second-quarter revenue and profit below analysts' consensus expectations.Co-CEO Hilton Schlosberg said the energy drinks sector has been hit by declining convenience store foot traffic.The company plans to implement a 5% price increase on November 1. Monster Beverage (MNST) shares sank Thursday, a day after co-Chief Executive Officer (CEO) Hilton Schlosberg acknowledged headwinds in the energy drinks sector in the company's second-quarter earnings report. “The energy drink catego ...