STZ - Bud Light no longer top-selling beer in U.S. as boycott dents sales - report

2023-06-14 03:54:05 ET

Anheuser Busch InBev's ( BUD ) Bud Light is no longer the top selling beer in the U.S. after being dethroned by Constellation Brands' ( STZ ) Modelo Especial, the Wall Street Journal reported.

This follows a boycott of the Bud Light brand since April over a controversial ad campaign featuring social media influencer and trans activist Dylan Mulvaney.

Modelo accounted for 8.4% of beer sales by U.S. retailers in the four weeks ended June 3, compared with Bud Light's 7.3%, the report said citing consulting firm Bump Williams, which analyzed Nielsen data.

Bud Light sales slid 24% Y/Y in the week ended June 3. Sales of other AB InBev ( BUD ) brands have also been hit, the report said , including Budweiser and low-calorie beer Michelob Ultra.

"The latest data shows little sign that consumers are moving on from the Bud Light controversy and we expect these issues will continue to weigh on investor sentiment," said Citi analyst Simon Hales.

Note that AB InBev ( BUD ) continues to be the largest brewer in the U.S., with 40.4% market share in the first four months of the year, up from 38.3% in the year-ago period.

More on Bud Light

• Bud Light sales continue crashing, Coors Light sales rise
• Anheuser-Busch InBev: The Damage Looks Permanent
• Anheuser-Busch InBev: Diversity Introduced Adversity
• Anheuser-Busch: The Situation Is Getting Even Worse

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