... Thanks for posting that, Berry.You are quite welcome Salty. An ex Anheuser-Bush exec warned that Bud Light is running out of time and could lose market share FOREVER.
#### Salty Originally Posted by Salty Again
In the week ending May 27, Anheuser-Busch InBev said Bud Light sales dropped 23.9% from a year ago — a smaller decline than the week prior, down 25.7%. Volumes were slightly improved slightly better too, down 27.8% the week of May 27, compared to down 29.5% the week of May 20. That's according to data from Bump Williams Consulting cited in an Evercore ISI note to clients.
"Another week of very weak trends for Bud Light indicates that tracked channels may be reaching a point of stabilization, albeit at significantly lower levels for Anheuser-Busch InBev than prior to the controversy," Evercore said
Bud Light Is Set to Lose a Big Chunk of Its Business Permanently
But that doesn't mean the stock isn't attractive, according to Bernstein analysts.
The damage Bud Light has done to its brand may be irreparable.
About eight weeks after the company's partnership with transgender influencer Dylan Mulvaney went viral sales were down 24% year over year compared to Memorial Day weekend last year.
It seems at this point that the best the company can hope for is to wait out the controversy until the fury over their misstep subsides, but the company can kiss a certain percentage of its business goodbye permanently, according to a new Bernstein note.
Bud Light's parent company, can expect a "permanent 15% haircut," to Bud Light sales, Bernstein analysts Nadine Sarwat and Trevor Stirling wrote in a note, according to Forbes.
Bernstein also lowered its overall 2023 profit forecast for the company by 6.7%.
Despite that grim outlook for Bud Light, the firm is still bullish on Anheuser Busch's stock due to its current price to earnings ratio of 15, its lowest in over a decade.
The firm placed a $71.60 per share price target on the stock, a 30% upside from the stock's closing price of nearly $55 per share.
Despite the falling sales, Bud Light is still, by far, the country's most popular beer, according to CNN.
Bud Light has made up over 35% of domestic beer sales this year through May 27. Coors Light is in second place with 21.6% of the market.
But that lead has slipped considerably in recent weeks.
In the week ended May 27, Bud Light controlled 28.8% of of the market compared to Coors Light's 25.6% market share.
https://www.thestreet.com/retailers/...ss-permanentlyMebbe the Most Interesting Man in the World will go Tranny!!!!!!!!!!
Modelo's also been moving up the market share ranks Originally Posted by HDGristle