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Bud Light sales keep sinking

today 10/31/2023
The sales of Bud Light beer in the United States continue to negatively impact Anheuser-Busch InBev's profits, but the company's overall sales increased due to higher prices. In the third quarter, the company experienced a 13.5% decrease in revenue per 100 liters in the US, which is a significant measure of beer sales. This decline is a result of an ongoing backlash against Bud Light, as customers turned away from the brand after it partnered with a transgender influencer and mishandled the response. AB InBev reported a 17% decline in sales to US retailers primarily due to the decrease in Bud Light volume. The company responded by making deals with wholesalers, providing financial support to distributors, and increasing marketing efforts for the brand. However, these actions had a negative impact on the company's overall earnings, which declined by 29% in the US. Bud Light's sales and shipments have significantly weakened since its short-term partnership with Dylan Mulvaney, a transgender influencer. In addition, the brand lost its position as the top-selling American beer to Modelo, a rival brand owned by Constellation. Despite these challenges, AB InBev's global revenue increased by 5%, reaching approximately $15.6 billion, and adjusted earnings grew by 4.1%, mainly due to price increases. However, volumes dipped by 3.4%, with growth limited to the Middle East, Africa, and Asia-Pacific regions. The company also expressed concerns about underperforming in Europe. AB-InBev's shares rose by 4% in premarket trading, and the company announced a $1 billion stock buyback.
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