Monster Beverage Hit By Falling Convenience Store Foot Traffic

Core Insights - Monster Beverage reported second-quarter revenue and profit below analysts' expectations, with earnings per share (EPS) of 41 cents and net sales of $1.90 billion, reflecting a year-over-year increase of 2.5% [1][2] - Co-CEO Hilton Schlosberg indicated that the energy drinks sector is facing challenges due to declining foot traffic in convenience stores and a shift towards mass and dollar retail channels [1] - The company plans to implement a 5% price increase on its core brands and packages in the U.S. starting November 1 [2] Company Performance - Monster's shares fell over 10% to $45.25 following the earnings report, marking a decline of approximately 21% year-to-date [2] - The company's performance was impacted by a tighter consumer spending environment and weaker demand, which were also noted by other beverage and consumer packaged goods companies [1]