Posted on 08/06/2023 11:55:28 AM PDT by Tolerance Sucks Rocks
Anheuser-Busch InBev, the global beer-making giant, reported a sharp drop in sales and profit in the United States, as it counted the cost of a conservative-led boycott of Bud Light after the company’s collaboration with a transgender influencer.
Anheuser-Busch said that its revenue in the United States fell more than 10% last quarter, versus the same period last year, “primarily due to the volume decline of Bud Light.” Operating profit at the U.S. unit dropped by nearly 30%.
Bud Light has faced a backlash from conservative commentators and celebrities after Dylan Mulvaney, a transgender influencer, posted a promotion for the beer on Instagram in April. Anheuser Busch later put some marketing executives on leave and announced layoffs in its corporate offices.
Bud Light was dethroned by Modelo Especial as the nation’s top-selling beer in retail sales in June. Constellation Brands, which sells Modelo in the United States, reported 7.5% growth in beer volumes in its most recent quarter, which ended on May 31, compared with the same period last year. Overall volume at Anheuser-Busch, which also sells Beck’s, Michelob, Stella Artois and many other brands, fell by more than 1% in the three months through June.
Bud Light has been losing market share because of the backlash. Anheuser-Busch noted, however, that the share of sales of its brands in the United States had stabilized by the end of the quarter.
Sales of the conglomerate’s other beers, in other countries, helped bolster its results, with total revenue last quarter up just over 7% and a measure of profit gaining 5%, beating analysts’ expectations. The company, which is based in Belgium, reiterated its forecast for profit growth of up to 8% this year, in part because it has been raising prices. Its share price rose 4% in European trading.
(Excerpt) Read more at post-gazette.com ...
Aw.... Geez....
Too bad so sad. 🤣🤣🤣
Nice doors.
I don’t think Bud Light was hit by a conservative boycott. It’s just a lot of people responding very negatively to very bad advertising.
These reports of diminished earnings are all lies! The Bud Light brand is strong as ever with sales expected to grow in the next couple of years. These reports are just lies intended to make it look like the marketing to a new and vibrant market segment was a mistake, and that the rubes and stupid, brain damaged MAGA hicks in flyover country have stopped buying the finest beer in America. We stand in front of our decision and will bend over forwards to support our new market segment! And we won’t allow the nay-saying MAGA maggots to try to prevent our entry into diverse markets in the future! Rainbow pride!
“Dent”?
Shareholders....SUE AWAY...............
Heh “Comments disabled for this story.” Sissy boys.
And due to some marketing @$$hole’$ misstep, thousands of brewery employees, distributor’s reps and truckers (the real working people) are laid off or cut back.
Nice picture - thanks for posting.
If they could have only gotten the USA Women’s Soccer Team on board that would have done the trick and turned the campaign around.
I love happy news 📰📰📰📰📰
Go woke, go broke and go to Hell, Pud Lite.
I’m surprised the pro-trans crowd hasn’t tagged their building yet. It’s who we are dealing with, and most would rather stick their heads in the sand on the subject.
I saw that.
I would rather drink water out of the East River than drink Bud Light. What swill.
Hey Pittsburg post gazette....
I got a one finger response to you and your communist loving rag,...
They all got “Heinerscheided”.
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