At-home fitness isn’t only driving a rapidly growing connected fitness sector — living room workouts are causing thirsty consumers to reach for sports drinks. PepsiCo, which owns Gatorade, reported its third quarter earnings yesterday, which included a 5.3% increase in revenue to $18 billion.
“People are exercising at home, people are embracing daily routines of exercising that helps the sports drink category and obviously Gatorade as a leader in that category,” PepsiCo Chairman and CEO Ramon Laguarta said on a conference call. PepsiCo stock was up 1.59% on the day.
Pass Me A Cold One:
Constellation Brands will look to use sports to help bolster sales in the second half of its fiscal year. The owner of a variety of alcohol brands — including Corona, Modelo and Pacifico — also reported its earnings yesterday, beating estimates.
The company’s beer business grew 11% in tracked retail sales. Even so, Constellation Brands expects a strong push in marketing spending with the return of sports — as much as 10% of net sales on a full-year basis.
New NFL x Constellation Partnerships:
- Rams x Corona
- Chargers x Pacifico
- Raiders x Modelo
