They waited till they thought nobody was looking. Fail.
All they care about is the stock price, which was half what it was in 2016 before the DM fiasco and now recovering from its May 31 low.
The lagging indicator of sales won’t hit their financials officially until their annual report (no idea when that comes out). As it stands right now, the word from the stock world is that the worst is behind them, and AB now has a ‘buy’ rating. They probably believe cleaning house will help the stock recover (and sales).
I don’t think that their former customers are so stupid and they can’t buy back that volume of sales without spending billions over the next decade in advertising. IMHO, it’s a double hit which ought to drive the stock down by half again until it recovers somewhat, but in this world woke billionaires control the stock market, so it remains to be seen if they can continue to prop it up in the face of dismal sales.
In any other business, such a sales drop would have been met with decisive and immediate executive action; a 90-day delay is absolutely pathetic and demonstrative of a corporation going ‘all in.’
If I miss it, I hope someone posts the AB annual report story when it comes out; I always like reading good news and I do hope it’s dismal for them.
Keep destroying woke companies like Ambev, folks.