FIFA World Cup 2026: An early read suggests improving trends within alc-beverages, lodging, and select retailers

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FIFA World Cup 2026: An early read suggests improving trends within alc-beverages, lodging, and select retailers

Equity Research

23 June 2026 | 12:06AM EDT

GLOBAL CONSUMER STAPLES

FIFA World Cup 2026: An early read suggests improving trends within

alc-beverages, lodging, and select retailers

Our View - The 2026 FIFA World Cup kicked off in the US on June 12, and while it Bonnie Herzog

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remains very early in the tournament (not ending until July 19), our initial review of bonnie.herzog@gs.com

Goldman Sachs & Co. LLC

industry data suggests the event is beginning to drive measurable improvement in

Kate McShane, CFAconsumer activity across several categories. In this report we highlight the key trends +1(212)902-6740 |

and beneficiaries so far across US and European sectors and reiterate our Buy ratings kate.mcshane@gs.comGoldman Sachs & Co. LLC

on STZ, ABI, HEIN, and CARL (US and European Consumer Staples); ASO & DKS (US Lizzie Dove

Hardlines Retail); ANF (US Specialty and Apparel Retail); H, MAR, HLT, IHG (US and +1(212)902-0097Goldman Sachs & Co.| lizzie.dove@gs.comLLC

European Lodging & Leisure); FLUT, DKNG, LTMC, ENT (US and European Sports Brooke Roach, CFA

Betting & Gaming) and ABNB, EXPE, BKNG (US Internet). +1(212)357-2421 | brooke.roach@gs.com

Looking at recent trends across different sectors, within Consumer Staples, Nielsen Olivier Nicolaï

data through June 13 and our recent channel checks point to improving beverage +44(20)7774-2895 | olivier.nicolai@gs.com

trends, particularly within alcoholic beverages (esp. beer), although the data set Goldman Sachs International

captures only the first two days of tournament activity and therefore should be Thiago Bortoluci

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