Posted on 07/10/2023 11:32:03 PM PDT by Morgana
Bud Light sales have been slipping, and the impact extends beyond the beer brand.
Global glass producer Ardagh Group recently announced that it's shutting down two glass bottling plants — one in North Carolina and one in Louisiana.
WRAL-TV reported that the closure of these two plants would result in roughly 645 employees being laid off.
According to an internal memo obtained by WRAL, the decision was "due to slow sales with Anheuser InBev," the multinational brewing company behind Bud Light.
In April, Bud Light partnered with transgender social media influencer Dylan Mulvaney, who has 10.7 million followers on TikTok. The collaboration triggered a backlash on social media and led to a boycott by some beer drinkers.
Bud Light sales in the U.S. dropped 28% in the week ended June 24 compared to the previous year, according to consulting company Bump Williams using data from NielsenIQ.
Anheuser-Busch InBev's (NYSE:BUD) share price has also taken a hit. Since April 1, when Mulvaney first promoted the beer on social media, BUD stock has tumbled 16%, resulting in the loss of billions of dollars of market cap. Check out:
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Blackstone made a $13 billion bet on the growth in student housing. Here's how you can carve out your own piece of the student housing market with just $500.
While Bud Light is grappling with declining sales, competitors are seizing the opportunity to swoop in and grab market share. Here's a look at two beverage stocks that Wall Street finds particularly attractive.
(Excerpt) Read more at finance.yahoo.com ...
Other brewers will take up the slack. It’s not that we are stopping drinking beer, people are buying other brands.
They can direct all comments towards Bud Light executives.
It is too bad Budweiser didn’t consider their employees before they pissed off their customers.
When you go up against the Marxist agenda you must break a few eggs.
Another reason to blame CEO Branden Worth$shit
🔝🔝🔝
weird how yahoo doesnt publish articles talking about the thousands of jobs lost do to the current administrations energy chokehold.
because it doesnt fit the agends.
reminds me of the brainless dolt of a secretary at a company i worked at 20+ years ago. She said she was was voting for McGreevy for NJ governor instead of schundler because schundler was going to get rid of all of the highway toll workers. I asked her if she had EZ Pass on her car?
she changed the subject
The best thing would be for the top management team to step down, replaced by a team with a new, fresh perspective.
Moar free advertising. Why not just admit that you are helping them?
interesting how the failure of a leftist campaign of any kind always leads to guilt tripping from them as if we are supposed to feel guilty about following one’s own conscience. if only THEY had one of those.
“600 Employees Are Now Jobless”
Well, didn’t obama get unemployment benefits extended to 99 weeks? So there’s that.
Also, while no where near 600, my whole department got laid off in 1988.....know what we all did?......found another job.
Well, you are right..
“The brew’s sales have nosedived and Mexican lager Modelo has now replaced it as America’s best selling beer.”
More jobs for Mexicans.
Modelo is imported and sold by Constellation Brands in the US.
I still drinking, Cigar City Brewing is my choice. Yuengling is another beer I like...
That dumb marketing smart aleck girl still hasn’t been fired.
Modelo is owned by InBev. Same difference.
Compared to 20,000 IT people without jobs, this is inconsequential.
The 600 employees should write to bud light ceo Brendan Whitworth and thank him for ruining their lives and careers
Not in the USA.
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