A managing director at HSBC’s global beverage sector downgraded the stock of Anheuser-Busch InBev to a hold status.
“Is ABI’s leadership getting the brand culture transformation right? It’s mixed,” Laboy wrote in a note that was published on Wednesday.Bud Light crisis came about a month ago
“Why did its US leadership underestimate the risk of pushback given the recent experience of other firms?” Laboy wrote.“If Budweiser and Bud Light are iconictogether, why did these marketers fail to invite new consumers without alienating the core base of the firm’s largest brand?” Laboy asked. InBev was an independent company that was created as a result of the 2004 merger between Brazil-based Ambev and Belgian firm Interbrew.
An HSBC analyst downgraded Anheuser-Busch InBev stock due to backlash over the partnership with Mulvaney.Laboy’s note was written as market data shows that beer drinkers are shunning Bud Light in increasing numbers.— worse than the 21.4% decline it suffered a week earlier, according to Bump Williams Consulting and NielsenIQ data.The company’s flagship Budweiser brand took an 11.4% sales hit for the week ended April 29.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bud Light sales declines are now affecting Anheuser-Busch's other big brands, says new dataAs beer drinkers discover how many other beer brands fall under the Anheuser-Busch umbrella, the backlash is widening, according to Bump Williams Consulting...
Read more »
Anheuser-Busch CEO blames ‘misinformation’ for Dylan Mulvaney debacle“Misinformation.” That was the term the CEO of Anheuser-Busch’s parent company used to explain the hangover from Bud Light’s partnership with transgender influencer Dylan Mulvaney.
Read more »
Anheuser-Busch CEO Criticizes 'Misinformation' After Marketing ControversyAnheuser-Busch CEO Criticizes 'Misinformation' After Marketing Controversy | Compare reporting by Forbes CNNBusiness WashTimes
Read more »
Anheuser-Busch sales down 12.5% since April, new report confirmsBeer sales numbers for Bud Light and Anheuser-Busch were down in April, according to reports released Monday following the controversial Dylan Mulvaney collaboration.
Read more »
Bud Light sales still suffer in wake of Dylan Mulvaney fiasco: ‘It’s slowed down some’Bryan Johnson, the manager of Bud’s Liquor in Hot Springs, Ark., told The Sentinel-Record that customers are shunning the Anheuser-Busch brand.
Read more »
Bud Light sales down 12.5% since April, new report confirmsBeer sales numbers for Bud Light and Anheuser-Busch were down in April, according to reports released Monday following the controversial Dylan Mulvaney collaboration.
Read more »