Posted on 05/31/2023 9:12:09 AM PDT by MtnClimber
There was a widespread expectation that the outrage over Bud Light’s pushing of transgender icon Dylan Mulvaney would fade over time, as often happens with boycotts. But not this time. Nielsen, which tracks sales scanner data released new data Tuesday showing the nightmare for Bud Light and its parent AB InBev is deepening. Josh Schafer writes at Yahoo Finance:
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%.
Even worse for the company, other brands in its portfolio are also being hit, as Janet Freund writes for Bloomberg in a notice to subscribers that is not online:
The broader InBev beer portfolio also continues to see weakness, while Molson Coors’ Coors Light beer continues to see market share gains accelerate, he says
My guess is that ordering or drinking in public a Bud Light, or even a Budweiser or other identifiable sister brand, subjects a person to mockery. So, even those who are indifferent to the transgender propaganda tidal wave are being influenced to stay away from the brand.
(Excerpt) Read more at americanthinker.com ...
What’s sad . . . the wrong people get fired or end up collateral damage. These companies will continue to hire or retain incompetent or agenda-obsessed individuals, then continue to wonder why profits are down.
My question is is getting Bud Light with the money back offer good or bad? I mean free beer cannot be that good for the bottom line or is it a salvage savings because if they cannot give it away free they have to take it back costing them even more?
I recently had a pool party for my brother’s grandsons 12th birthday. Lots of people showed up. A few parents brought Bud Light. Others mocked them in front of their children for drinking “Queer Beer”. I could see future Bud Light sales plummeting. They would have to put up with their children saying “ look at what you are drinking...it is Q.....”
One guy opened a bud light in our golf league and received unmerciful derision. All well deserved.
Then InBev— the Belgian owned beer consortium— should SELL Anheuser Busch/Budweiser to an AMERICAN buyer, with AMERICAN values. For beer for a real working country, not the host of Nato Eurotrash.
I don’t have any investments in AB InBev so I don’t care how much it falls. It is fun to watch though.
I gave up my Corona for XX
I’d add Ford Motor Company, but they are doing a bang-up job of killing themselves
man, the woke gobbledygook that would pour out of that woman’s mouth
i would not put her in charge of petty cash
Yep, that was Bud Light alright.
Sales doing the Limbo: How low can you go?
Yeah...no surprise. I figured the sales collapse would only show up as a lagging indicator. Until those that make the orders for more beer see that there’s really no point then they’ll continue to order more. ...those orders are becoming fewer and fewer.
“beer is basically free and I am broke”
The distributors are trying to move what they have. They will not order more unless they are contractually obligated.
There will come a point where they shut down production.
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