Honolulu Star-Advertiser

Wednesday, May 1, 2024 81° Today's Paper


Top News

Bud Light brewer still struggling in North America after backlash

ASSOCIATED PRESS
                                Cans of Bud Light chill in a refrigerator in Oakland, Calif., April 28. AB InBev reports earnings today.
1/1
Swipe or click to see more

ASSOCIATED PRESS

Cans of Bud Light chill in a refrigerator in Oakland, Calif., April 28. AB InBev reports earnings today.

Anheuser-Busch Inbev said today that revenue growth in most of its global regions was offset by a drop in North American sales, in a sign of continuing fallout from a promotion with a transgender influencer that cost it sales.

The world’s largest brewer and parent company of Bud Light said adjusted earnings for the latest quarter rose 4.1% to $5.4 billion on revenues that climbed 5% to $15.6 billion.

Revenue in the United States for the July-September period, however, tumbled 13.5%. AB InBev, based in Leuven, Belgium, noted that sales to retailers were down “primarily due to the volume decline of Bud Light.”

Bud Light sales plunged amid a conservative backlash after the brand sent a commemorative can to transgender influencer Dylan Mulvaney in early April.

The controversy toppled Bud Light from its position as America’s best-selling beer for more than two decades. In June, it dropped to second place in U.S. retail sales behind Modelo Especial. Modelo — which is owned by InBev but imported and sold by Constellation Brands in the U.S. — remains the market leader, with nearly 9% share in year-to-date retail sales through Oct. 21. Bud Light has an 8% share.

U.S. dollar sales of Bud Light were down 29% in the four weeks ending Oct. 21 compared to same period a year ago, according to Nielsen data compiled by Bump Williams Consulting. They are down nearly 19% for the year to date.

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines. Having trouble with comments? Learn more here.