• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»AB InBev stock drops as analysts look for ‘stabilization’ in Bud Light sales declines
Finance

AB InBev stock drops as analysts look for ‘stabilization’ in Bud Light sales declines

May 17, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
AB InBev stock drops as analysts look for 'stabilization' in Bud Light sales declines
Share
Facebook Twitter LinkedIn Pinterest Email

Shares of Bud Light parent company Anheuser-Busch InBev (BUD) are down 7.6% since the company reported earnings May 4 as the Dylan Mulvaney controversy continues to weigh on the beer giant’s sales.

Bud Light sales during the week of May 6 declined 23.6% compared to the same time period last year, according to data from Bump Williams Consulting and Nielsen NIQ cited by Evercore ISI.

That’s a slightly larger decline than the prior week ending April 29, which saw Bud Light sales down 23.4% year-over-year. Following the initial boycott, sales were down 6.9% for the week ending April 8.

It’s the fourth straight week of declining sales for Bud Light — and comes after Mulvaney, a transgender influencer and TikTok personality, made an Instagram post during March Madness basketball endorsing the beer.

Following the post, the company saw sales lower throughout April and into May following an April 3 video from country singer Kid Rock, which apparently prompted a wider-spread boycott among certain US consumers.

AB InBev’s entire portfolio has also seemed to feel the impact.

Sales of Budweiser dropped 11.4% the week ending April 29; that drop marginally recovered to a 9.7% year-on-year decline for the week ending May 6.

Michelob Ultra also saw sales drop as low as 4.3% year-over-year the week ending April 29; last week, sales were down 2.9% over last year for the beer brand.

Anheuser-Busch InBev CEO Michel Dimitrios Doukeris downplayed the controversy in a call with investors. He said that Mulvaney’s social media post was “one post, not a formal campaign or advertisement.” Mulvaney has 1.8 million followers on Instagram.

See also  Stocks fall amid countdown to jobs report: Stock market news today

Following the call, others, including from the LGBTIQA+ community like 2Bears Tavern Uptown in Chicago, decided to boycott the brand too.

In an Instagram post, the bar venue said “Anheuser-Busch’s decision to drop its support of Mulvaney in response to ignorant and hateful objections by some of its customers shows how little Anheuser-Busch cares about the LGBTIQA+ community…”

A ‘stabilization’ for the decline

While Bud Light sales are still on the decline, Evercore ISI analyst Robert Ottenstein said the company may have seen the worst of it with the summer drinking months around the corner.

In a note to clients, Ottenstein said: “A second week of flattish trends strengthens the possibility that tracked channels have reached a point of stabilization, albeit at significantly lower levels for AB InBev than prior to the controversy.”

AB InBev’s Doukeris said the company has “significantly increased” investments in its US brands, “including tripling our medium (marketing) spend over the summer” as it aims to focus on sports, music and connecting with consumers “what beer needs to do.”

Recent sales trends for the rest of AB InBev’s portfolio may also mean better news is on the horizon.

“While Bud Light trends stayed essentially the same, the rest of ABI’s portfolio improved sequentially, which is a positive sign that trends impacting the rest of the portfolio may be starting to reverse,” Ottenstein said. “However, we also note that all of TAP’s brands accelerated in the latest week, which may indicate that overall industry strength positively impacted the data.”

See also  8 Best LED Light Therapy Masks for Every Skin Type

The week ending May 6 also served as the biggest sales week for Molson Coors’ (TAP) portfolio since the controversy hit its competitor.

Last week, sales of Coors Light were up 22.2% year-over-year while Miller Lite sales rose 22.8%.

ARCO, ID - APRIL 21: A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. Anheuser-Busch, the brewer of Bud Light has faced backlash after the company sponsored two Instagram posts from a transgender woman.(Photo by Natalie Behring/Getty Images)

A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. (Photo by Natalie Behring/Getty Images)

—

Brooke DiPalma is a reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.

For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

Analysts Bud Declines drops InBev Light sales stabilization stock
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Female Athletes Who Won’t Support Riley Gaines Are ‘Absolute Cowards’

April 15, 2023

Nikki Haley and Vivek Ramaswamy battle it out at GOP debate: ‘You have no foreign policy experience, and it shows!’

August 24, 2023

‘Serious Danger’: Elon Musk Predicts Banking Crisis After Real Estate ‘Anvil’ Drops

April 19, 2023

Country Star Travis Tritt Dumping Anheuser-Busch from His Tour After Dylan Mulvaney Deal

April 9, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

YouTube Announces It Is ‘Ramping Up’ Censorship Of ‘Medical Misinformation’

August 15, 2023

Breaking: New Mexico governor issues public health order temporarily suspending open and conceal carry laws in Albuquerque

September 9, 2023

Huge Swath Of Country Gripped By Worst Heat Wave In Years

August 23, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.