饮料：美国nielseniq洞察（截至5月17日的4周数据）：按公司和类别划分的美国nielsen趋势概述

Beverages: US NielsenIQ insights(4 w/e May 17th) Overview of US Nielsen trends by company and categories European Consumer StaplesNEUTRAL The latest US NielsenIQ data for the four weeks ending May 17th2025 was released today.Below, wesummarise four-weekly sales growth trends in NielsenIQ tracked categories forABI,Heineken, Campari, Diageo, Fever Tree, Pernod and Remy Cointreau.We also includeBrown-Forman, Constellation Brands, Molson Coors Brewing Company(covered by LaurenLieberman) andBecle(covered by Benjamin Theurer). European Consumer Staples Laurence Whyatt+44 (0)20 7773 5324laurence.whyatt@barclays.comBarclays, UK Ashutosh Jain+91 (0)22 6175 1452ashutosh.jain@barclays.comBarclays, UK Analysis on other metrics e.g. brand-level splits, volume/pricing/promo trends, etc. is availableupon request. Best,Laurence and team FIGURE 1. Beer & Spirits – 4w/e sales growth in the US (% YoY growth) ABI Heineken FIGURE 3. Four-weekly company sales growth in the US (% YoY growth) Campari Diageo Fever Tree FIGURE 6. Four-weekly company sales growth in the US (% YoY growth) Pernod Ricard Remy Cointreau FIGURE 8. Four-weekly company sales growth in the US (% YoY growth) Brown Forman Constellation Brands FIGURE 10. Four-weekly company sales growth in the US (% YoY growth) Molson Coors Becle (Proximo Spirits) Analyst(s) Certification(s):We, Ashutosh Jain and Laurence Whyatt, hereby certify (1) that the views expressed in this research report accurately reflect our personal views about any or all of the subject securities or issuers referred to in this research report and (2) no part of our compensation was, is or will be directly orindirectly related to the specific recommendations or views expressed in this research report. Important Disclosures: Barclays Research is produced by the Investment Bank of Barclays Bank PLC and itsaffiliates(collectively and each individually, "Barclays"). Allauthors contributing to this research report are Research Analysts unless otherwise indicated. The publication date at the top of the report reflects thelocal time where the report was produced and maydifferfrom the release date provided in GMT. Availability of Disclosures: Where any companies are the subject of this research report, for current important disclosures regarding those companies please refer to https://publicresearch.barclays.com or alternatively send a written request to: Barclays Research Compliance, 745 Seventh Avenue, 13th Floor, New York, NY10019 or call +1-212-526-1072. The analysts responsible for preparing this research report have received compensation based upon various factors including the firm's total revenues,a portion of which is generated by investment banking activities, the profitability and revenues of the Markets business and the potential interest of thefirm's investing clients in research with respect to the asset class covered by the analyst. Research analysts employed outside the US byaffiliatesof Barclays Capital Inc. are not registered/qualified as research analysts with FINRA. Such non-US research analysts may not be associated persons of Barclays Capital Inc., which is a FINRA member, and therefore may not be subject to FINRA Rule2241 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst’s account. Analysts regularly conduct site visits to view the material operations of covered companies, but Barclays policy prohibits them from accepting paymentor reimbursement by any covered company of their travel expenses for such visits. Barclays Research Department produces various types of research including, but not limited to, fundamental analysis, equity-linked analysis,quantitative analysis, and trade ideas. Recommendations contained in one type of Barclays Research maydifferfrom those contained in other types ofBarclays Research, whether as a result ofdifferingtime horizons, methodologies, or otherwise. In order to access Barclays Statement regarding Research Dissemination Policies and Procedures, please refer to https://publicresearch.barclays.com/S/RD.htm. In order to access Barclays Research Conflict Management Policy Statement, please refer to: https://publicresearch.barclays.com/S/CM.htm. Unless otherwise indicated, prices are sourced from Bloomberg and reflect the closing price in the relevant trading market, which may not be the lastavailable closing price at the time of publication. Risk Disclosure(s) Master limited partnerships (MLPs) are pass-through entities structured as publicly listed partnerships. For tax purposes, distributions to MLP unitholders may be treated as a return of principal. Investors should consult their own tax advisors before investing in MLP units. Disclosure(s) regarding Information Sources The Nielsen material contained in this report represents Nielsen estimates and does not represent facts. Nielsen has neither reviewed nor approvedthis report and/or any of th