BEER DISCOUNTING DROVE LABOR DAY SALES, REPORT SAYS

NEW YORK -- Labor Day weekend produced strong beer sales, but gains likely were driven by discounting, which cuts into profits, a recently released survey suggested.In a survey of beer wholesalers by Citigroup beverage research here, 65% reported sales exceeded their expectations. Eighty-nine percent said discounting was heavier this Labor Day weekend over last year's.Citigroup surveyed about 40 wholesalers

NEW YORK -- Labor Day weekend produced strong beer sales, but gains likely were driven by discounting, which cuts into profits, a recently released survey suggested.

In a survey of beer wholesalers by Citigroup beverage research here, 65% reported sales exceeded their expectations. Eighty-nine percent said discounting was heavier this Labor Day weekend over last year's.

Citigroup surveyed about 40 wholesalers representing more than 30,000 retailers.

"We remain concer

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