Bud Light sales still suffering in US a year after controversy
Partnership with Dylan Mulvaney sparked a boycott of Bud Light
Anheuser-Busch delivers robust profit in Q1
FOX Business' Lauren Simonetti gives the latest market check and reports on Anheuser-Busch's earnings success.
Anheuser-Busch InBev's Bud Light brand has still not recovered in the U.S. more than a year since the beverage giant's controversial partnership with transgender influencer Dylan Mulvaney sparked a boycott of the beer.
In its first-quarter earnings released Wednesday, A-B reported a 2.6% increase in revenue globally, but a 9.1% decrease in America. Sales to retailers in the U.S. were down 13.7%, primarily driven by a drop in Bud Light volume, the company said.
Bud Light sales in the U.S. continue to drag on Anheuser-Busch more than a year after its controversial partnership sparked a boycott. (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BUD | ANHEUSER-BUSCH INBEV | 54.14 | +0.34 | +0.63% |
Anheuser-Busch InBev SA
Sales to wholesalers in the U.S. market were also down by 10.1%, and the company's earnings before interest, taxes, depreciation and amortization (EBITDA) dropped by 19.7%.
Total volumes globally were down 0.6% in the quarter, with A-B's beer volumes down by 1.3%, but non-beer volumes were up by 3.5%.
HOW TARGET, BUD LIGHT TURNED OFF LOYAL CUSTOMERS IN 2023
Sales of Bud Light began to tumble in the U.S. in April 2023, not long after the brand created and sent custom beer cans to Mulvaney to mark "365 days of girlhood."
Bud Light has faced intense backlash from longtime customers over a campaign last year with transgender activist Dylan Mulvaney. (Instagram/Fox News / Fox News)
That move and comments from Bud Light's marketing vice president at the time, Alissa Heinerscheid, who said she wanted to update the "fratty" and "out-of-touch" brand, sparked calls from conservative influencers and celebrities to shun the brand, and a boycott took hold.
Bud Light was toppled from its long reign as the bestselling beer in the U.S. last year, losing the title to Constellation Brand's Modela Especial.
Modelo Especial, brewed by Constellation Brands, became the top-selling beer in the U.S. last year, overtaking Bud Light. (Mario Tama/Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STZ | CONSTELLATION BRANDS INC. | 236.57 | +2.89 | +1.24% |
Constellation Brands Inc.
A-B has worked to rehabilitate Bud Light's image since the boycott, with limited success.
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In recent months, the company announced new partnerships with UFC and the Olympics and released Super Bowl ads focused on patriotism and humor.