Reported 2 months ago
Monster Beverage's second-quarter sales fell short of expectations as a cautious consumer base reduces spending on its premium energy drinks due to rising essential costs. The company's net sales amounted to $1.90 billion, significantly lower than the forecasted $2.01 billion. In response, Monster plans to increase prices on its core products by approximately 5% starting November 1. Shares dropped about 10% following the announcement.
Source: YAHOO