In presenting its quarterly results, the company noted that revenue in the United States was down 13.5 percent largely as a result of the Bud Light boycott. Yahoo Finance reported that U.S. sales to wholesalers were down 17.6 percent and sales to retailers dropped 16.6 percent. That led to a 29.3 percent drop in operating profit, according to MarketWatch. In looking ahead, the company is focusing its marketing on more traditional areas, such as the partnership with UFC that begins Jan. 1. partnership during the earnings call. “I could not be more excited about joining or rejoining UFC on this comeback and to have Bud Light in the US for the fans and Budweiser being activated globally,” he said. Doukeris offered some hope that the worst has passed, noting that the company’s market share has not fallen further since it cratered in April, according to ABC News. He claimed an internal poll found 40 percent of former Bud Light drinkers would come back to the brand. “This gives us some certainty that we are moving in the right direction. don’t think we are at a new normal yet, but we have a good grip on what we need to do and how we are proceeding,” the CEO said.
Bud Light’s parent company Anheuser-Busch InBev saw its sales sink by 13.5% last quarter as fallout from the Bud Light boycott continues.See the full story at https://t.co/VkKHQwI3eK pic.twitter.com/lySyzIpbSN — Freespoke (@FreespokeSearch) November 1, 2023
This article appeared originally on The Western Journal.