Anheuser-Busch Smacked With More Devastating News About Losses From Bud Light Boycott

[Kamaji]

Anheuser-Busch Smacked With More Devastating News About Losses From Bud Light Boycott

By Nick Arama
August 03, 2023

We’ve been writing about the losses Bud Light has taken since endorsing transgender influencer Dylan Mulvaney.

They’ve been taking huge hits on all levels since April 1, including toppling out of the number-one-selling beer in America and losing billions in market cap.

But the numbers show that Anheuser-Busch has taken a huge hit in the second quarter, losing a whopping $390 million.

The parent company blamed the ‘volume decline’ of Bud Light for the drop in revenue in its second quarter – with figures showing that total US revenue dropped by 10.5 percent in the April-to-June period compared to a year earlier.

The world’s largest brewer said Thursday that sales to US retailers had plunged 14 percent, adding that it had been ‘underperforming the industry.’ This was a direct result of the tie-in with Mulvaney.

For the second quarter of 2022, Anheuser Busch sold $2.73 billion worth of beer to retailers. But for the second quarter of 2023, sales dropped to $2.35 billion – a slump of $390 million in a year.

They lost nearly 30 percent in core profit, and they’ve lost almost $40 billion in market cap.

In the wake of Bud Light’s “woke” advert, Anheuser-Busch has lost nearly $37 in market value. On March 31 — the day before Mulvaney’s disastrous social media campaign — AB InBev had a market cap of $134.5 billion. As of Thursday, that figure plummeted to $97.74 billion.

As we’ve noted, it’s not just affected Bud Light, but once people found out what other beers were in the Anheuser-Busch stable, those were taking a hit too. Meanwhile, other brands like Coors have gained, and Modelo Especial has taken over the number one spot for the last two months.

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Source:  https://redstate.com/nick-arama/2023/08/03/anheuser-busch-smacked-with-more-devastating-news-about-losses-from-bud-light-boycott-n786959

[sneakypete]

It really is hard to believe that people would not only boycott AB,but that they would stick with  the boycott and see it through.

I am sure AB thought that way,too. A small drop in sales they could recover when filing taxes,and then it would be over.

.
They never figured it would spread to other AB products. Truth  to tell,neither did I,but this is one instance I am happy to have been proven wrong.