Core Insights - Americans are expected to spend more on common barbeque items this Fourth of July due to rising prices of products like beer, outdoor folding chairs, and grill tools [1] Price Increases - The total cost of a typical grocery trip for a cookout has increased by 12.7% annually since President Trump's tariff announcement in April [2] - A six-pack of bottled lite domestic beer has seen price increases of over 13% since April [3] - Imported beers have also experienced price hikes, with Peroni Nastro Azzurro increasing by 10.5% and Modelo Especial by 9.5% [3] Tariff Impact - In April, tariffs of 25% were announced on beer imports and empty aluminum cans, with an increase to 50% on imported aluminum in June [4] - Higher aluminum costs have negatively impacted margins for some beer brands, including Constellation Brands [4] Cookout Gear Price Changes - Prices for cookout gear have also risen, with a Coleman foldable camping chair increasing by 47.7% and a 25-piece griddle accessories kit by 17.7% since April [5] - Other products have seen more modest price increases, such as Banana Boat sunscreen (8.1%), Reynolds Wrap aluminum foil (6.9%), Weber propane grill (5%), and disposable plates and utensils (3.3%) [5] Overall Barbeque Costs - A separate report indicated that the cost of a 10-person barbeque has risen by 4.2% this year, reaching $100 for the first time, largely due to higher beef prices [6]

Q1 2025 Earnings Call April 30, 2025 This presentation contains statements reflecting our views about our future performance that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including our second quarter and fiscal year 2025 guidance. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expects," "intends," "outlook," "forecast", "position", "committed," "plans," "anticipate ...