Posted on 05/30/2023 1:45:07 PM PDT by Morgana
Bud Light sales declines are accelerating, and shares of parent company Anheuser-Busch InBev (BUD) are falling alongside them.
New data from Nielsen revealed Bud Light sales declined 24.3% year-over-year in the week ending May 20 while Budweiser sales were down 20.4% during the same period. Last week sales were down 21.6% and 17.6% respectively. Driven by backlash from an advertising campaign with transgender influencer Dylan Mulvaney, Bud Light sales have now declined for six weeks, per Nielsen.
Shares of AbInBev fell nearly 5% on Tuesday, the worst intraday action on the stock since Mulvaney's post on April 1. Since the day of the post, ABInBev shares have fallen roughly 18%.
Citi analyst Simon Hales argues the drop in Budweiser sales could provide a buying opportunity for investors.
"There continues to be contagion to the wider ABInBev brand portfolio, with Budweiser, Busch and Michelob all weak again," Hales wrote in a note on Tuesday. "Meanwhile, Coors Light continue to see share gains accelerate. The latest data shows little sign that consumers are moving on from the Bud Light controversy, and we expect these issues will continue to weigh on investor sentiment. Nevertheless, we believe the pullback creates an interesting entry point for longer-term investors."
(Excerpt) Read more at finance.yahoo.com ...
NICE ! Inbev deserves every bit of it...Freeper beer drinkers look at the other items /breweries Inbev owns and make it a point to avoid them all. I am enjoying a delicious Abita amber Lager down here in Mandeville, Louisiana...Haven’t bought any Bud or Inbev product since it began...THIS IS HOW we force companies tto just make your stuff and stay away from this b__l___t and any other demonic political garbage...I hope they break up .
I LOVE IT!!!
there’s a valuable lesson in all of this: if you manufacture a marginal commodity product, stay the hell out of politics ...
As a comparison, State Farm is pulling out of California after losing $4B
Yep, .Bud light first ~ ALL of InBev next! It will take some time, because they have a wide reach, but we can put nails in the coffin of In-Bev if we just stick to it.
No mercy!! Don’t forgive them! They did this to us on purpose!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.