DIRS.INFO The most relevant business & tech news

☆ US CEO of Bud Light maker tells customers 'we hear you' after brand loses best-selling beer in America crown
▼ + stars: | 2023-06-16 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Anheuser-Busch's US CEO outlined steps the brand is taking to alleviate Bud Light backlash. This week, Bud Light lost its title as the best-selling beer brand in the US. In the video, Mulvaney, 26, talked about a March Madness contest sponsored by Bud Light, and how she was celebrating her "day 365 of womanhood." A decline in Bud Light sales has persisted. Earlier this week, the Bud Light beer brand ceded its title as the best-selling beer brand in the US to Modelo Especial beer, after the beer brand's sales dropped by 23% in May, according to data compiled by consumer-behavior research firm Circana and shared with Insider.

Persons: Bud, Bud Light, —, Bud Light's, Brendan Whitworth, Whitworth, you've, influencer Dylan Mulvaney, Mulvaney Organizations: Service, Anheuser, Busch, Bud, Bud Light, Modelo Especial

☆ US CEO of Bud Light maker tells customers 'we hear you' after brand loses best-selling American beer crown
▼ + stars: | 2023-06-16 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Persons: Bud, Bud Light, —, Bud Light's, Brendan Whitworth, Whitworth, you've, influencer Dylan Mulvaney, Mulvaney Organizations: Service, Anheuser, Busch, Bud, Bud Light, Modelo Especial

☆ Chinese delegation to meet with Germany's top corporate brass next week
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +3 min

FRANKFURT/BERLIN, June 16 (Reuters) - A Chinese delegation led by Premier Li Qiang will meet Germany's top CEOs next week as part of a visit to Europe, hoping to strengthen ties at a time when Berlin is pursuing a strategy to lessen its economic dependence on Beijing. A meeting between Li and a group of German and Chinese CEOs is scheduled for June 19, according to people familiar with the plans. Mercedes-Benz (MBGn.DE), SAP (SAPG.DE) and Siemens Energy (ENR1n.DE) all confirmed that their CEOs would meet with the delegation. The CEO of Volkswagen (VOWG_p.DE) division Audi will also participate, a person familiar with the matter said. BASF (BASFn.DE), Bayer (BAYGn.DE), Infineon (IFXGn.DE), Volkswagen (VOWG_p.DE) and BMW (BMWG.DE), all companies with major business ties to China, declined to comment.

Persons: Premier Li Qiang, Li, Li Shufu, Mercedes, Roland Busch, Olaf Scholz, Robert Habeck, Andrew Small, Marshall, Siegfried Russwurm, Ilona Wissenbach, Hakan Ersen, Christoph Steitz, Ludwig Burger, Patricia Weiss, Christina Amann, Andreas Rinke, Rene Wagner, Sarah Marsh, Jan Schwartz, Alexander Huebner, Raju Gopalakrishnan, Louise Heavens Organizations: Premier, Mercedes, Benz, SAP, Siemens Energy, Volkswagen, Audi, Beijing Automotive Group Co, HK, Siemens, Pacific Committee, BASF, Bayer, Infineon, BMW, Thomson Locations: FRANKFURT, BERLIN, Europe, Berlin, Beijing, China, Asia, German, Germany, Frankfurt, Hamburg, Munich

☆ Siemens to invest $2.2 bln to ramp up global production
▼ + stars: | 2023-06-15 | by ( John Revill | ) www.reuters.com time to read: +3 min

[1/4] Siemens CEO Roland Busch announces their plans for a new Singapore plant, at their office in Singapore June 15, 2023. Siemens will also increase its research and development spending by 500 million euros this year, the company said on Thursday. The company, which employs 311,000, is seen as a bellwether for the health of the global industrial economy. Siemens also wants to grow faster than rivals and increase market share, Busch told analysts last month. Still, on Thursday Siemens said it was also investing 140 million euros to expand its digital factory in the Chinese city of Chengdu and building a new R&D centre in Shenzhen.

Persons: Roland Busch, Edgar Su, Busch, Wirtschaftswoche, John Revill, Tomasz Janowski Organizations: Siemens, REUTERS, Company, Deal, Thomson Locations: Singapore, ZURICH, United States, Europe, Beijing, Washington, China, Chengdu, Shenzhen

☆ MLB roundup: Down to last strike, Giants stun Cards
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +12 min

Ronald Acuna Jr. supplied three hits, including a homer, and drove in three runs for the Braves. Spencer Strider (7-2) gave up five runs, including three homers, in five innings but still collected the win. Orlando Arcia had two hits and drove in two runs for Atlanta, which has won nine of its last 11. Detroit starter Michael Lorenzen (2-4) gave up all six Braves runs and nine hits in six innings. Astros 5, Nationals 4Jose Abreu recorded two extra-base hits and three RBIs and scored with two outs in the ninth inning as host Houston edged Washington.

Persons: Mike Yastrzemski, Jeff Curry, Thairo Estrada, Wilmer Flores, LaMonte Wade Jr, Francisco, Jakob Junis, Taylor Rogers, Ryan Walker, Tyler Rogers, Camilo Doval, Tommy Edman, Steven Matz, Brandon Nimmo, Isiah Kiner, Dominic Leone, Josh Donaldson, Mark Vientos, Albert Abreu, Nick Ramirez, Nimmo, Michael Harris II, Ronald Acuna Jr, Orlando Arcia, Spencer Strider, Miguel Cabrera, Eric Haase, Spencer Torkelson, Reese Olson, Ozzie Albies, Eddie Rosario, Collin McHugh, Joe Jimenez, A.J, Minter, Jake Rogers, Andy Ibanez, Matt Vierling, Michael Lorenzen, Mike Tauchman, Dansby Swanson, Osvaldo Bido, Roansy Contreras, Contreras, Drew Smyly, Carlos Correa, Bailey Ober, Brian Anderson, Luis Urias, Ober, Colin Rea, Jose Berrios, George Springer, Berrios, Adley Rutschman, Kyle Bradish, Toronto's Jordan Romano, Ryan O'Hearn, Austin Hays, Aaron Hicks, Adam Frazier, Jose Abreu, Hunter Harvey, Jake Meyers, C.J . Abrams, Kyle Tucker, Keibert Ruiz, Meyers, Abreu, Marcus Semien, Corey Seager, Jimmy Herget, Seager, Shohei Ohtani, Will Smith, Smith, Mike Trout, Anthony Rendon, Matt McLain, Stuart Fairchild, McLain, Jonathan India, Spencer Steer, Edward Olivares, Bobby Witt Jr, Jake Burger, Clint Frazier, Luis Robert Jr, Burger, Alex Vesia, plunked Andrew Benintendi, Frazier, Reynaldo Lopez, Mike Clevinger, Eury Perez, Jorge Soler, Jesus Sanchez, Perez, Eugenio Suarez, Sanchez, Soler, Seattle's Luis Castillo, Pete Alonso, Rob Refsnyder's, Jarren Duran, Connor Wong, Justin Turner, Alex Verdugo, Turner, Garrett Whitlock, Austin Gomber, Michael Wacha, Fernando Tatis Jr, Manny Machado, Juan Soto, Nelson Cruz, Tatis, Aaron Civale, Realmuto, Craig Kimbrel, Jose Alvarado, Arizona's Scott McGough, Kyle Schwarber, Trea Turner, Gerardo Perdomo, Jake McCarthy, Nick Castellanos, Manuel Margot, Yandy Diaz, JJ Bleday, Tyler Glasnow, Luis Medina Organizations: San Francisco Giants, St, Louis Cardinals, Busch, USA, Giants, Cardinals, Mets, Yankees, New York Mets, New York Yankees, The Mets, Braves, Tigers, Atlanta, Detroit, Cubs, Pirates, Pittsburgh, Chicago, Brewers, Milwaukee, The Twins, Twins, Blue Jays, Orioles, Toronto, Baltimore, Astros, Nationals, Houston, Washington, Rangers, Angels, Los Angeles, The Rangers, Reds, Royals, Cincinnati, Kansas City, White Sox, Dodgers, Marlins, Mariners, Miami, Seattle, Los Angeles Angels, Red Sox, Rockies, Boston, Colorado, The Red Sox, Austin, Padres, San Diego, Cleveland, Phillies, Diamondbacks, Philadelphia, Arizona, Rays, Tampa Bay, Oakland, Athletics, Thomson Locations: Louis , Missouri, USA, Minnesota, Minneapolis, Milwaukee, Washington, Texas, Los, Arlington , Texas, Los Angeles, Phoenix

☆ The tightrope CEOs are walking is getting more precarious
▼ + stars: | 2023-06-15 | by ( Josée Rose | ) www.businessinsider.com time to read: +8 min

Practically, it's about so much more — and CEOs these days are being held accountable for more than profits. There's also the notion of social justice — which often sees CEOs encountering criticism when they speak up on culturally sensitive issues, or facing blowback if they stay silent. Brands like Disney, Target , Bud Lite and North Face face consequences for expressing a view, including boycotts, online protests, and threats of violence. It's OK to avoid constantly getting into the fray; instead, pick moments that enforce the company's values. When CEOs do decide to take a public stance, Eber said that their PR teams are there to help.

Persons: Insider's Hasan Chowdhury, aren't, —, There's, George Floyd, Roe, Wade, Karen Eber, Chowdhury, Eber, Richard Hytner, Bud Lite, Insider's Kelsey Vlamis, Bud, influencer Dylan Mulvaney, Heinerscheid, Bud Light's, we're, LIV Golf, Insider's Joe Ciolli, LIV, Jay Monahan, Monahan, I've Organizations: Service, Pride, Saatchi, Saatchi's, CNN, Street, Brands, Disney, Target, Anheuser, Busch InBev, PGA, LIV, Wall Street, PGA Tour Locations: It's, Europe, Middle East, Africa, Saudi, Saudi Arabia

☆ Corporate boycotts clash with political reality
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 15 (Reuters Breakingviews) - Republicans are firing from the hip when it comes to corporate boycotts. Conservative Americans’ changing beer habits may have contributed to Bud Light being pulled from its spot as the number one beer in the United States for the first time in more than two decades. In May, Bud Light sales dropped a quarter compared to the same month last year, consulting companies Bump Williams and NielsenIQ said Wednesday. As conservatives encourage consumption based on political views, they may in some cases pull cash from their own pockets. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bud Light, Marjorie Taylor Greene, Ted Cruz, Marsha Blackburn of, Busch, influencer Dylan Mulvaney, Bud, Bump Williams, NielsenIQ, Ben Winck, Lauren Silva Laughlin, Streisand Neto Organizations: Reuters, Conservative, Republican, Anheuser, Bud Light, Democratic, Constellation Brands, Target, Twitter, Thomson Locations: United States, Marjorie Taylor Greene of Georgia, Ted Cruz of Texas, Marsha Blackburn of Tennessee

☆ China industry minister, Siemens CEO discuss digital manufacturing, development
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

BEIJING, June 14 (Reuters) - China's industry minister met Siemens' (SIEGn.DE) chief executive on Wednesday and discussed intelligent manufacturing, digital economy development and the digital transformation of small and medium-sized enterprises, the ministry said. The minister, Jin Zhuanglong, said the Chinese government attaches great importance to promoting the deep integration of the digital economy, according to a statement from the ministry of Industry and Information Technology. Chief Executive Roland Busch said the company wants to further expand Siemens' investment in China, and further strengthen cooperation with China, according to the statement. Reporting by Beijing newsroomOur Standards: The Thomson Reuters Trust Principles.

Persons: Jin Zhuanglong, Roland Busch Organizations: Siemens, Industry, Information Technology, Beijing, Thomson Locations: BEIJING, China

June 14 (Reuters) - Anheuser-Busch InBev's (ABI.BR) Bud Light has lost its top spot in the U.S. beer market to Constellation Brands' (STZ.N) Modelo Especial, following a backlash from conservatives over a social media promotion with transgender influencer Dylan Mulvaney. Cans of AB InBev's Bud Light hard seltzer are displayed in a fridge in Jewel-Osco supermarket in Chicago, Illinois, U.S. October 21, 2020. REUTERS/Richa NaiduConstellation's Modelo Especial was the top-selling beer brand in the United States with an 8.4% share of overall beer sales through retail stores for the period ending June 3, data from Bump Williams showed. Bud Light came in second with a 7.3% share. AB InBev's overall sales growth declined 12% in the four weeks ended May 20, data from NielsenIQ and TD Cowen showed.

Persons: Busch, Bud Light, influencer Dylan Mulvaney ., Bump Williams, Michel Doukeris, Bud Light's, Dylan Mulvaney, Miller, Jon Reynolds, Bud, seltzer, Richa Naidu, TD Cowen, Cowen, Vivien Azer, Ananya Mariam Rajesh, Anil D'Silva Organizations: Anheuser, Constellation Brands, Modelo, Budweiser, Modelo Especial, InBev, Conservative, Target, Molson Coors, University of Vermont, REUTERS, Euromonitor International, Reuters, Thomson Locations: U.S, NielsenIQ, Chicago , Illinois, United States, Bengaluru

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, SoFi, ServiceNow, Meta, Netflix, Splunk and more
▼ + stars: | 2023-06-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +12 min

Piper Sandler initiates Domino's as overweight Piper said it sees an attractive risk/reward for Domino's shares. Piper Sandler reiterates Meta as outperform Piper Sandler raised its price target on the stock to $310 per share from $270 and said ad spend is "holding up." Citi downgrades Logitech to neutral from buy Citi downgraded the stock due to the unexpected departure of CEO Bracken Darrell. Citi reiterates Accenture as buy Citi said the Dublin-based IT company is an AI beneficiary. Piper Sandler initiates Bentley Systems as overweight Piper said the company is a "high quality industrial software franchise operating with scale."

Persons: Piper Sandler, Piper, Wolfe, it's bullish, Bernstein, Gordon Haskett downgrades, Gordon Haskett, Needham, ServiceNow, Bracken Darrell, Guy Gecht, Raymond James, Dave, Buster's, Riley downgrades Cinemark, Riley, Li, Morgan Stanley, Tesla, Splunk, TD Cowen, Wingstop, Cowen, it's, Estée Lauder, Berenberg, Roth, Morgan, Bud Light Organizations: Barclays, Netflix, FedEx, Apple, TAM, Citi, Logitech, Materials, SVB Securities, PayPal, Linde, LIN, Bank of America, Oculis, Dave, Cinemark Holdings, Inc, Accenture, IT Services, Li Auto Citi, China, Li, SSS, Bentley Systems, Photonics, Technologies, AMD Data Center, JPMorgan, DG, Anheuser, Busch InBev, Molson Coors, & $ Locations: 3Q22, 4Q22, 2H23, Latin America, Dublin, Bergamo

Bud Light trailed with a 7.3% share. Bud Light sales fell 24.6% in the period year over year, while Modelo sales jumped 10.2%, the data shows. Still, the Anheuser-Busch InBev brand Bud Light leads U.S. beer sales so far this year, according to Bump Williams. The company's shares have dropped nearly 15% since the start of April, when Mulvaney posted a video of a personalized Bud Light can, which sparked anti-LGBTQ+ outrage. The boycott against Bud Light comes as state and federal politicians increasingly push to claw back the rights of trans people.

Persons: Bud Light, influencer Dylan Mulvaney, Bump Williams, Mulvaney, Brendan Whitworth Organizations: Modelo, Constellation Brands, Anheuser, Busch InBev, Bud, Busch, Pride, Starbucks, Target Locations: Brooklyn Borough, New York, U.S

☆ Bud Light loses its title as America’s top-selling beer
▼ + stars: | 2023-06-14 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —America’s top-selling beer is no longer American. Modelo Especial, the Mexican lager brewed near Mexico City by Constellation Brands, became the top-selling beer in May, overthrowing Bud Light from the top spot it has held for more than two decades. The fall from the top further highlighted how much trouble the Anheuser-Busch brand is in following transgender influencer Dylan Mulvaney’s Instagram post showing off a customized Bud Light can. Dollar sales were equally grim for Bud Light during that period, with sales falling 24.4%, while Modelo’s grew 12.2%. Modelo Especial overtook Bud Light sales in May.

Persons: New York CNN —, Bud Light, influencer Dylan Mulvaney’s, Bump Williams, ” Williams, Justin Sullivan, Williams, Greg Gallagher, ”, BUD, Bud Organizations: New, New York CNN, New York CNN — America’s, Modelo Especial, Constellation Brands, Anheuser, Busch, Modelo, “, CNN, Modelo Oro, Bud Light, Cinco de Mayo, Mulvaney Locations: New York, Mexico City, Cinco de, Belgium

☆ Bud Light Is No Longer America’s Top-Selling Beer After Boycott
▼ + stars: | 2023-06-14 | by ( J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Bud Light has been dethroned as the nation’s top-selling beer in recent weeks, a data analytics company said, a sign that the backlash the brewer received from conservatives over its relationship with a transgender influencer may be taking a toll. Sales of Bud Light fell to 7.3 percent in the same period. The shift follows a conservative-led boycott against Bud Light that started after Dylan Mulvaney, a transgender influencer, posted a video on Instagram on April 1 promoting a Bud Light contest. Bud Light’s share of retail sales has dropped about three percentage points since the boycott began. Anheuser-Busch, the maker of Bud Light, later announced the departure of two marketing executives, but the company’s attempt to backtrack drew further criticism, this time from liberals and members of the L.G.B.T.Q.

Persons: Bud Light, Bump Williams, Dylan Mulvaney, Bud, Bud Light’s, backtrack Organizations: Modelo Especial, Constellation Brands, Nielsen, Sales, Anheuser, Busch Locations: Mexican

☆ Stocks making the biggest moves midday: Logitech, Toyota, UnitedHealth, AMD and more
▼ + stars: | 2023-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Logitech — Shares tumbled 12.3% after the company announced president and CEO Bracken Darrell is departing. Toyota — The Japan-based automaker's shares gained 4.5% Wednesday. Lumen Technologies — The telecommunications stock gained 6% during midday trading Wednesday, adding to the 16% advance that was made Tuesday. Earlier in the week, the company announced a new partnership with electric vehicle software charging company ev.energy. Advanced Micro Devices — The chip stock gained nearly 2% in midday trading, a day after the company announced its latest artificial intelligence chips.

Persons: Bracken Darrell, UnitedHealth — UnitedHealth, John Franklin Rex, Akio Toyoda, Lumen, Roth MKM, Goldman Sachs, Bernstein, Bud, Raymond James, Buster's, Cinemark, Riley, Li Auto, Morgan Stanley, Wolfe, it's bullish, Gordon Haskett, SVB, — SoFi, Estée Lauder —, — CNBC's Michelle Fox, Yun Li, Sarah Min, Hakyung Kim Organizations: Logitech, Swiss Federal Institute of Technology of, Citi, Goldman, Global Healthcare, Toyota, Lumen Technologies, Google, Microsoft, Maxeon, Technologies, Reuters, Services, AMD, Anheuser, Busch InBev —, Netflix, Wolfe Research, Barclays, SVB Securities, Berenberg Locations: Swiss Federal Institute of Technology of Lausanne, Lausanne, Switzerland, Japan, Latin America

☆ Siemens plans new plant in Singapore in Asia expansion
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 13 (Reuters) - Siemens (SIEGn.DE) plans to build a new plant for its industrial automation division in Singapore, the company said on Tuesday, as it expands its business in Asia to serve booming orders for automation technology. "Siemens intends to build a new, state-of-the-art Digital Industries (DI) factory in Singapore - as part of its strategy to strengthen global diversification and resilience," a spokesperson for the company told Reuters. The company will announce further details of its plans on Thursday, the spokesperson said. The project's price tag is estimated to be at a low three-digit million-euro sum, Wirtschaftswoche magazine, which first reported the news, said, citing company sources. Reporting by Alexander Huebner and Riham Alkousaa; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Siemens, Roland Busch, Wirtschaftswoche, Alexander Huebner, Sharon Singleton Organizations: Siemens, Digital Industries, Reuters, Thomson Locations: BERLIN, Singapore, Asia, China, Amberg, Germany

☆ Starbucks union claims dozens of stores aren't allowed to decorate for Pride
▼ + stars: | 2023-06-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Starbucks Workers United said Tuesday that dozens of the coffee chain's U.S. stores aren't allowing employees to decorate for Pride month. A Starbucks spokesperson told CNBC that the company's security and safety manual provides broad guidance for stores around decorations. Some Massachusetts workers were told that there weren't enough labor hours to schedule partners to decorate, the union said. And managers told employees in Maryland that some people didn't feel represented by the "umbrella of pride," according to the labor group. Oklahoma Starbucks workers were also prohibited from hanging Pride flags in store windows.

Persons: hasn't, Baristas Organizations: Starbucks, Highland, Parade, Starbucks Workers, CNBC, U.S, Republican, Anheuser, Busch InBev, Kohl's, Workers, Pride, Target, Washington Post Locations: Hollywood, Los Angeles , California, United States, Massachusetts, Maryland, Oklahoma

Overall U.S. beer sales grew 1.8% in the 12 weeks ended May 20, according to data from research firms NielsenIQ and TD Cowen. Sam Adams maker Boston Beer, the largest craft beer maker, saw its market share slip last year. Bud Light and Coors Light, popular premium light beers, average about $7.40 for a 12-ounce six-pack, while Boston Beer's Sam Adams costs between $10 to $12. "The American consumer likes light beer," Molson Coors CEO Gavin Hattersley said at a conference in early June. "I think dynamics within the subsegment might change, but the overall consumption of light beer is not going to change materially."

Persons: Beer, Neil Reid, TD Cowen, Vivien Azer, Sam Adams, Boston Beer, Bud Light, Jon Reynolds, Reid, influencer Dylan Mulvaney, Michel Doukeris, Gavin Hattersley, Ananya Mariam Rajesh, Anil D'Silva Organizations: Anheuser, Busch InBev, Molson Coors Beverage, University of Toledo, Refinitiv, Molson Coors, InBev, Boston Beer Co, Reuters Graphics, Boston, Constellation Brands, Modelo, Reuters, Brewery, Miller, University of Vermont . Giants, AB InBev, Thomson Locations: United States, NielsenIQ, Corona, American, Bengaluru

☆ Brands like Sony and Chipotle want to make Hollywood-style content for film and TV, and these advertising pioneers have built a startup to get their messages out
▼ + stars: | 2023-06-11 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

That belief has taken him from famed ad agency Wieden + Kennedy to talent agency CAA, where he set up its first marketing consultancy. The firm pitches itself as part management consultancy, part brand entertainment production company, and part consumer brand accelerator. "If a great sports movie happens to come from Nike, it's still great entertainment," Goodman said. "If a great sports movie happens to come from Nike, it's still great entertainment," Goodman said. One thing Goodman and Kaplan are not trying to do is compete with brands' ad agency budgets.

Persons: Jae Goodman, John Kaplan, It's, Gibson, Kennedy, Goodman, Chipotle, Stephanie Perdue, Jay, Kaplan, —, Michael Kassan's, Anheuser, it's, Superconnector, it'll Organizations: Superconnector Studios, Sony, CAA, Observatory, Entertainment, Hollywood, HBO Max, Netflix, Procter & Gamble, Imagine Entertainment, Delirio Studios, MTV Documentary, Paramount, HBO, Apple, Management, Sony Pictures Television, McKinsey, Accenture —, Anheuser Busch, InBev, Gibson, Nike, Talent Locations: LA

☆ Bud Light lost its sales crown to Modelo Especial amid right-wing backlash, report finds
▼ + stars: | 2023-06-10 | by ( Leslie J. Allen | ) www.businessinsider.com time to read: +2 min

Bud Light sales dropped 23% in May, according to data from research firm Circana. Bud Light sales plunged 23% year-over-year in May to $297.3 million, according to data compiled by consumer-behavior research firm Circana and shared with Insider. Anheuser-Busch suffered weeks of backlash from a Bud Light promotion featuring trans influencer Dylan Mulvaney. Analysts at JPMorgan recently warned that Bud Light sales could drop as much as 13% this year. Rounding out the top five in beer sales for May were Michelob Ultra, Coors Light, and Miller Lite, Circana reports.

Persons: Bud, —, Bud Light, influencer Dylan Mulvaney, Dylan Mulvaney, Gene J, Rob Kim, Bud Light's, Miller Organizations: Bud Light, Modelo, Service, Especial, Constellation Brands, Conservative, Anheuser, Busch, Associated Press, JPMorgan, Coors

☆ From right-wing backlash to Apple's TV play — these 3 big questions will dominate conversations at the Cannes Lions.
▼ + stars: | 2023-06-08 | by ( Lauren Johnson | Claire Atkinson | ) www.businessinsider.com time to read: +7 min

This year's Cannes Lions ad festival is taking place as advertisers are reeling from major shifts. The Cannes Lions organizers said that none of the three execs have been confirmed as speakers. Generative AI must boost creativity without stealing jobsThe rapid rise of generative AI took the advertising and media worlds by storm. Attendees will also have the opportunity to hobnob with the company that kicked off the generative AI storm last November. Simon Cook, Cannes Lions CEO, told Insider that top executives from ChatGPT developer OpenAI like chief operating officer Brad Lightcap will attend the festival.

Persons: Twitter's Elon Musk, Linda Yaccarino, Oliver Schusser, Michael Kassan, he's, execs, Bud Light, influencer Dylan Mulvaney, Bud, Busch, Fura, Leslie Klein, Sir Martin Sorrell, David Droga, Nick Law, Simon Cook, Brad Lightcap, Huge's, Elon Musk, Ben Hovaness, They've, Jon Williams, Akram Chetibi, Craig Atkinson Organizations: Cannes Lions, Apple, Twitter, Netflix, Hollywood, UTA, Target, Bud Light, Anheuser, Busch, Accenture, Cannes, Apple News, Carlton Hotel, Omnicom Media, Amazon Web Locations: Cannes

☆ Why Is Disney Fighting DeSantis? I Know the Answer. - The New York Times
▼ + stars: | 2023-06-07 | by ( Sean Griffin | ) www.nytimes.com time to read: +1 min

Even Chick-fil-A, the chicken-sandwich seller that has historically been aligned with conservative causes, drew sudden condemnation for an existing diversity, equity and inclusion policy. Companies are rarely exemplars of courage, and some — particularly Anheuser-Busch, Bud Light’s brewer — switched course almost immediately. But the noise is obscuring a bigger transformation amid the growing politicization of big business. Ron DeSantis of Florida last year attacked the Walt Disney Company for criticizing his anti-L.G.B.T.Q. Why would one of America’s largest corporate entities, particularly one lacking a long history of taking grand positions on social issues, go to the mat for L.G.B.T.Q.

Persons: Bud Light, Bud Light’s, —, Ron DeSantis, Disney, Donald Trump Organizations: America, Pride, Anheuser, Busch, Walt Disney Company, Republican Locations: Orlando, Fla, Florida

☆ Bud Light sales keep slipping. But it remains America’s top-selling beer
▼ + stars: | 2023-06-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

For the past several weeks, Bud Light sales declines have hovered around 25% weekly because of customer revolt following an Instagram partnership with transgender influencer Dylan Mulvaney. In response, Anheuser-Busch (BUD) said it was bolstering marketing on Bud Light and would offer rebates to customers. Bud Light has made up 35.1% of domestic beer sales this year (through May 27), according to NIQ. The biggest beneficiaries of Bud Light’s slipping sales continue to be MolsonCoors’ Miller Light and Coors Light, with sales up a whopping 26% and 23% respectively, according to NIQ. Sales of its Modelo Especial and its recently launched low-carb beer Modelo Oro are strong with sales up 9.5% and its share of the total beer category surpassing Bud Light last week, Williams said.

Persons: New York CNN —, Bud Light, Bump Williams, Bud, influencer Dylan Mulvaney, BUD, Williams, Bud Light’s, NIQ, ’ Miller Organizations: New, New York CNN, Memorial, Bud Light, Anheuser, Busch, CNN, Coors, Beer Business, Modelo, Constellation Brands, Modelo Especial, Cinco de Mayo Locations: New York, America, United States, Beer, Oro, Cinco

☆ Bernstein says Anheuser-Busch InBev selloff is overdone even as Bud Light sales volumes are expected to drop
▼ + stars: | 2023-06-06 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Bernstein said Bud Light volumes have further to fall, but is still optimistic on AB InBev's stock going forward. Analyst Trevor Stirling noted that the massive selloff in the stock stemming from customer backlash over the company's social media partnership with a transgender influencer was largely "overdone." Still, he said Bud Light volumes could continue to take a hit after already falling by roughly 30% in the U.S. in the second quarter. "We also assume that Bud Light volumes will take a permanent -15% haircut with an associated drag on operating leverage," the analyst said. Last month, HSBC downgraded Anheuser-Busch InBev stock over what the firm labeled a " Bud Light crisis ," and noted that the company could be contending with larger problems than it wants to admit.

Persons: Bernstein, Bud, Trevor Stirling, BUD YTD, BUD, Bud APAC, Stirling, — CNBC's Michael Bloom Organizations: Anheuser, Busch, InBev, HSBC, Busch InBev Locations: Monday's, U.S

☆ This Bud’s for You: Time to Buy Anheuser-Busch InBev
▼ + stars: | 2023-06-05 | by ( Aaron Back | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/this-buds-for-you-time-to-buy-anheuser-busch-inbev-3d406c9d

Persons: Dow Jones Organizations: anheuser, busch, inbev, 3d406c9d

☆ Conservative boycotts against Target and Bud Light are working thanks to a 'perfect storm' of social media and culture wars, experts say
▼ + stars: | 2023-06-03 | by ( Avery Hartmans | Natalie Musumeci | ) www.businessinsider.com time to read: +7 min

Experts say the boycotts work thanks to the culture wars and panic-stoking online and in the media. Bud Light was the target of social-media outcry in April after it partnered with the trans influencer and TikTok star Dylan Mulvaney. Bud Light owner Anheuser-Busch said that several of its facilities had received threats following the weeks of backlash against its brands. Like Bud Light, Nike also partnered with Mulvaney, but that outrage cycle seemed to blow over quickly. "Well, you know what, the next company is gonna say, 'We don't want to be Bud Light or Target.

Persons: —, Bud Light, Dylan Mulvaney, Disney, Ron DeSantis, Joe Raedle, Lawrence Glickman, Glickman, Bud, Busch, Brian Cornell, Scott Olson, Vanitha Swaminathan, Republican Sen, Ted Cruz, Cruz, Ari Drennen, Drennen Organizations: Service, Target, Florida Gov, American Studies, Cornell University, Consumer, Bud Light, Anheuser, Survey, Carey School of Business, Arizona State University, Cornell, Nike, Mulvaney, Katz, Branding, University of, Republican, Disney, Media Matters Locations: Target, America, Patagonia

Search resuls for: "busch"

25 mentions found