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The cannabis company Tilray expanded its position in the craft brew industry, completing the acquisition of eight beer brands from Anheuser-Busch that it had announced over the summer. Included in the deal are well known labels like Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. The New York City company also owns SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, and Green Flash Brewing Company. Tilray said that the transaction, which was announced in August, will triple its beer sales volume from four million cases to 12 million. A deluge of criticism and hate erupted soon after Mulvaney cracked open a Bud Light in an Instagram video.

Persons: Tilray, Tilray Brands, Irwin Simon, Busch, Bud Light, influencer Dylan Mulvaney, Mulvaney, Bud Light’s, Bump Williams Organizations: Anheuser, Busch, Breckenridge Brewery, Point Brewing Company, Brewing Company, Redhook, Widmer Brothers Brewing, Cider Company, HiBall Energy, Tilray, New, SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Modelo, Nielsen, Bump Williams Consulting Locations: New York City

☆ Here are the 12 stocks Jim Cramer is watching, including a dire consumer forecast
▼ + stars: | 2023-09-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +2 min

But keeps buy rating ahead of the video streamer's quarterly earnings out next month. Online advertising tech company Trade Desk (TTD) started with a buy rating and a $100-per-share price target at UBS. Bank of America cuts price target on Advance Auto Parts (AAP) to $60 per share from $75. Paychex (PAYX) gets multiple price target increases at TD Cowen (keeps buy rating), Morgan Stanley (keep hold rating), and Bank of America (keeps sell rating). Barclays cuts price target on United Parcel Service (UPS) to $175 per share from $180.

Persons: Matt Boss, Banks, Morgan Stanley, Jim Cramer's, Carl Eschenbach, Aneel, TD Cowen, Cowen, Price Organizations: JPMorgan, Netflix, Trade, UBS, BMO Capital, Bank of America, Parts, Diageo, DEO, CNBC, Club, Corona, Modelo, Constellation Brands, Walgreens, Alliance, Barclays, United Parcel Service Locations: Fargo

☆ The way I'm thinking about stocks makes them winners no matter what the Fed or bonds do
▼ + stars: | 2023-09-24 | by ( Jim Cramer | ) www.cnbc.com time to read: +14 min

After the September meeting pause last week, the target range for the fed funds rate remained at 5.25% to 5.50%. First, I don't know a soul besides me who agrees with that 20-year versus fed funds rate yield prognosis. They think the fed funds rate will come down or the 20-year yield is already extended. Second, I don't know anyone else who believes the economy is so strong that the Fed is correct to keep on an anti-inflation course. I don't think so.

Persons: We've, Jerome Powell, Powell, It's, —, that's, — let's, it's, Bob Iger, Charlie Scharf, there's, Einstein, Salesforce, Elliott, Bill Newlands, Constellation, William Giles, Giles, Bud, Tom Jorden, Coterra, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Federal Reserve, Fed, Treasury, Apple, Club, Disney, Hulu, CNBC, Comcast, DIS, ABC, ESPN, Nexstar Media, YouTube, Apple's, Wells, Constellation Brands, Constellation, Elliott Management, Autozone, San, Coterra Energy, & Gas, Ford, Traders, New York Stock Exchange, AFP, Getty Locations: U.S, New Jersey, Gary's, Madison —, Wells Fargo, Wells, What's, slowdowns, Texas, San Miguel, Brooklyn , New York, AMZN, CTRA

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to health care to retail
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Jeff Marks: The upcoming earnings report should be good considering how strong the beer business is doing. Jim Cramer: Estee Lauder CEO Fabrizio Freda was adamant that this quarter wouldn't be any good so everyone is selling it. (Ronald) Jim Cramer: There is no pressure that could pull oil down with the Saudi Arabia oil cuts and Russia export cuts. Jeff Marks: These oil stocks have become great hedges to inflation again, much like they were last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Jim Cramer, Johnson, Arbitrageurs, Greg, There's, We're, Elliott Management's, I'd, Elliott, Morgan Stanley, Carey, we've, James Gorman, Jim, Estee Lauder, Fabrizio Freda, there's, Dave Cote, Darius Adamczyk, Vimal Kapur, Darius, hasn't, —, Ronald, Rick, We've Organizations: Investing Club, Broadcom, VMWare, AAA, Constellation Brands, Modelo, Elliott Management, Cisco, Palo Alto Networks, Honeywell, Morgan, Morgan Stanley Laguna, GE Healthcare, Natural Resources, Devon Energy, Halliburton, HAL, Costco, Walmart, Kirkland, CNBC Locations: Canada, Johnson, Mel , Pennsylvania, Manville, New Jersey, U.S, Carey , Virginia, Asia, Kyle , Wisconsin, PANW, Omar , Colorado, Saudi Arabia, buybacks, GEHC

☆ Our takes on new Wall Street research analyzing 4 Club consumer stocks
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

There was lots of consumer stock research from Wall Street on Friday, including reports on Club names Costco (COST), Procter & Gamble (PG), beer maker Constellation Brands (STZ) and off-price retailer TJX Companies (TJX). HSBC also said Costco's premium stock multiple is worth it given management's strong execution, sustainable competitive advantages, and growth outlook. The analysts said that P & G has built "one of the strongest set of capabilities in the consumer staples sector." You will not see us trade Costco. TJX YTD mountain TJX Companies YTD In a note Friday, UBS sees department stores still losing share to off-price retailers in both sales and earnings before interest and taxes (EBIT) dollars over the next 10 years and beyond.

Persons: We're, Goldman Sachs, Goldman, Bill Newlands, Jim, TJX, It's, Jim Cramer's, Jim Cramer Organizations: Wall, Costco, Procter, Gamble, Constellation Brands, TJX Companies, HSBC, Coresight Research, Gamble YTD HSBC, Constellation, Modelo, Corona, Constellatio Brands, Elliott Management, UBS, Marshalls, Burlington, Ross Stores, CNBC, Corbis, Getty, & & $ Locations: U.S, Mexican, Maxx, Teterboro , New Jersey

☆ How Modelo’s Marketing Beat Bud Light (It Wasn’t Just the Boycott)
▼ + stars: | 2023-09-21 | by ( Katie Deighton | ) 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/the-disciplined-marketing-strategy-that-helped-modelo-beat-bud-light-b662d938

Persons: Dow Jones Organizations: modelo

☆ The Disciplined Marketing Strategy That Helped Modelo Beat Bud Light
▼ + stars: | 2023-09-20 | by ( Katie Deighton | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: modelo

☆ Here's our usual approach to buying and selling stocks on Fed decision days
▼ + stars: | 2023-09-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell's, Morgan Stanley, Jim, Jim Cramer's Organizations: CNBC, Dow Jones, Treasury, Amazon, JPMorgan, Constellation Brands, Corona, Modelo Locations: U.S

☆ The risks to alcohol and food stocks from Ozempic-like weight loss drugs
▼ + stars: | 2023-09-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

The rise of new anti-obesity medications could result in less alcohol consumption, impacting Club name Constellation Brands (STZ). The risk already seems to be playing out in food stocks with exposure to snacks and junk food. We don't think Constellation Brands stock will suffer the same fate as shares of leading snack food companies like J.M. Key points The increasing popularity of new diabetes/weight loss drugs could curtail consumer appetite for junk food and alcohol. Constellation Brands (STZ), the Club name behind the Mexican beers Corona and Modelo, should be able to weather any such headwind.

Persons: Eli Lilly, it's, Mills, Lilly, Jim Cramer, Mounjaro, Morgan, Morgan Stanley, AOMs, Jefferies, Jim Cramer's, Jim, Gabby Jones Organizations: Constellation Brands, Corona, Modelo, Pacifico, Nordisk, Ozempic, Club, Novo Nordisk, Brands, Conagra Brands, Constellation, Bud Light, Jefferies, JPMorgan, CNBC, Bloomberg, Getty Locations: U.S, Oro, Brooklyn Borough, New York

☆ These are the 11 sectors that comprise the S&P 500 — and the stocks we own in each
▼ + stars: | 2023-09-17 | by ( Paulina Likos | ) www.cnbc.com time to read: +28 min

.GSPF YTD mountain S & P 500 Financials Sector YTD performance Club stocks in the Financials sector: Morgan Stanley ( MS): The bank's services include investment banking, wealth management and investment management. Communication Services Sector market weight: 8.85% Market cap: $3.3 trillion YTD performance: up 44.5% Industries: Diversified telecommunication services; entertainment; interactive media & services; media; wireless telecommunication services. .GSPTS YTD mountain S & P 500 Communication Services Sector YTD performance Club stocks in the Communication Services sector: Walt Disney (DIS): The entertainment giant reported another mixed quarter last month, even against low expectations. Real estate Sector market weight: 2.44% Market cap: $909 billion YTD performance: up 0.9% Industries: Equity real estate investment trusts; real estate management & development. .SPLRCR YTD mountain S & P 500 Real Estate Sector YTD performance While we don't own any real estate stocks, investors have historically invested in the sector for its reliable cash flow from income-generating properties.

Persons: Jim Cramer's, Jim, Salesforce, reenergized, Marc Benioff, Wolfe, Palo, Eli Lilly, Cantor Fitzgerald, Bausch, bioprocessing, Morgan Stanley, Morgan Stanley's, Eaton Vance, Wells Fargo, Wells, TJX, Wynn, Locker, We've, Mary Dillon, Walt Disney, Bob Iger's, Emerson, Davidson, Vimal Kapur, Stanley Black, Decker, Estee Lauder, Gillette —, Elliott, Coterra, Linde, Jim Cramer, Mandel Ngan Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Technology Sector, Industries, Communications, Technology, Information Technology, Apple, Wedbush Securities, Microsoft, UBS, Deutsche Bank, Nvidia, Broadcom, VMware, Palo Alto Networks, Wolfe Research, Palo Alto, Oracle, Mizuho, Amazon Web Services, Google, Health Care, Biotechnology, Health, Bausch Health, Leerink Partners, GE Healthcare Technologies, General Electric, GE, Financials, Bank of America, United Auto Workers, Detroit, Ford, Starbucks, TJX, Marshalls, Wynn Resorts, WYNN, Communication Services, Communication, Hollywood, Charter Communications, Disney, JMP Securities, Facebook, Industrials, Aerospace, Emerson, Caterpillar, Honeywell, Consumer Staples Sector, Consumer, Consumer Staples, Costco Wholesale, Procter & Gamble, Gillette, Constellation Brands, Corona, Modelo, Pacifico, Elliott Management, Energy Sector, Energy, Coterra Energy, Natural Resources, West Texas, Utilities Sector, Electric, Companies, Sempra Energy, Materials, Chemicals, Linde, LIN, DuPont, Sector, Equity, Real, Jim Cramer's Charitable, New York Stock Exchange, AFP, Getty Locations: U.S, FactSet, bioprocessing, Wells Fargo, China, Maxx, Macao, Asia, Pacifico —, California, Texas

☆ Bill Gates made a nearly $100 million bet on Bud Light
▼ + stars: | 2023-09-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

Gates bought the stock around the time A-B reported earnings that fully encompassed the fallout from Bud Light’s partnership with transgender influencer Dylan Mulvaney. Last month, A-B said that its US revenue fell 10% in the second quarter, hampered by falling Bud Light sales. A few weeks later, Modelo overtook Bud Light in sales at grocery and beer stores, according to NIQ data, marking the first time Modelo has ever beaten Bud Light on a year-to-date basis. However, the difference is slim with Modelo holding 8.34% share of dollars spent on beer vs. 8.28% for Bud Light through August 12. Gates, who has previously admitted that he’s “not a big beer drinker,” has bought other beer brands too.

Persons: Bud Light’s, Bill Gates, Melinda Gates, Gates, influencer Dylan Mulvaney, Bud, Bud Light, he’s, ” Organizations: New, New York CNN, Anheuser, Busch, Melinda Gates Foundation Trust, Revenue, Modelo, Bud Light, Heineken Holding Locations: New York, North America, Canada, United States

☆ Don't trust any stock rally unless oil prices, bond yields fall, Jim Cramer warns
▼ + stars: | 2023-09-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Oil, bonds weigh on stocks Watch Constellation Brands Oracle on deck 1. Higher oil prices, bond yields weigh on stocks Stocks fell Wednesday morning, with the market on track for back-to-back days of declines. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Cowen, Guggenheim, Mizuho, Jim Cramer's, Jim Organizations: CNBC, Constellation Brands Oracle, Stocks, Nasdaq, Treasury, Saudi, West Texas, Southwest Airlines, Constellation Brands, Club, Modelo, Oracle Locations: U.S

☆ Modelo is now beating Bud Light for the entire year
▼ + stars: | 2023-08-22 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Modelo Especial is now officially America’s best-selling beer, dethroning Bud Light from the top spot it has largely held for the past two decades. Year-to-date sales data through August 12 shows it was tight, but Modelo eked out the top spot with an 8.34 share vs. 8.28 for Bud Light. Summer has been a bright spot for the Mexican lager, with Modelo surpassing Bud Light in May, June and July monthly sales. Modelo has held a 9.1 share for the past four weeks as Bud Light slipped to a 7 share of off-premise beer sales. There’s been some “material improvement,” for the Anheuser-Busch (BUD) brand Bud Light, according to Beer Business Daily, a trade publication.

Persons: Bud Light, Bud Light’s, There’s, BUD, Bud, Dylan, ” BBD, Greg Gallagher, ”, ” Gallagher, influencer, Busch Organizations: New, New York CNN — Modelo, Modelo, Bud, Anheuser, Busch, Beer Business, Constellation Brands, Corona, Constellation, CNN, Molson Coors, TAP, Miller Lite, Coors, Light, Modelo Especial, Revenue Locations: New York, North America, Canada, United States

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why Constellation Brands bet big on Modelo. And won against Bud LightConstellation Brands, which owns the U.S. licensing rights to Mexican beers like Modelo, Corona, Victoria and Pacifico is on fire. For the first time in 22 years, Modelo Especial beat out Bud Light as the country's top-selling beer in May. Constellation reported revenue of $2.5 billion in the quarter ending May 31, a 6.4% increase from the same quarter last year. The company's beer business delivered double-digit net sales growth of 11%.

Persons: Bud, Bud Light Organizations: Constellation Brands, Modelo, Bud Light Constellation Brands, Pacifico, Modelo Especial, Constellation Locations: Corona, Victoria

☆ How Modelo dethroned Bud Light to become the top-selling U.S. beer
▼ + stars: | 2023-08-18 | by ( Natalie Rice | ) www.cnbc.com time to read: +4 min

1 beer in America due to a competitor's moves is not accurate," said Jim Sabia, executive vice president and managing director of Constellation Brands ' beer division. Bud Light's sales slump changed that. The data shows that on the four weeks ended on May 20, Modelo's share of total beer sales grew to 10.7%, while Bud Light's fell to 9.6%. "Modelo has been on a rise and Bud Light's been on a decline as we've seen overall shifts in the beer market in the last 10 years." But when it comes to success in the Mexican beer market, Constellation is relatively untouchable.

Persons: Jim Sabia, We've, Sabia, Bud Light's, Bud Light, influencer Dylan Mulvaney, Bart Watson, Gerald Pascarelli, There's, Greg Gallagher, we've Organizations: Modelo Especial's U.S, Constellation Brands, Modelo, Modelo Especial, Nielsen, Wedbush Securities, Anheuser, Busch InBev, Brewers Association, Beer Institute Locations: America, U.S, Corona, Pacifico, Mexico, United States, Circana

☆ Bud Light is winning over Americans again, 4 months after its collaboration with Dylan Mulvaney sparked a conservative boycott
▼ + stars: | 2023-08-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Bud Light is winning over Americans again. Conservatives turned on the brand after it started sponsoring the transgender TikTok personality Dylan Mulvaney. But a recent poll showed “substantive signs of progress” for the beer, according to Deutsche Bank. The German bank said Wednesday that the beer brand had shown "substantive signs of progress" in August as it tries to regain customers after its collaboration with Dylan Mulvaney sparked a conservative backlash. Back in April, transgender influencer Mulvaney posted a video promoting Bud Light as part of a partnership with the brand.

Persons: Bud Light, Dylan Mulvaney, influencer Mulvaney, Kid Rock, Ron DeSantis, Busch Organizations: Conservatives, Deutsche Bank ., Service, Deutsche Bank, Anheuser, Busch InBev, Modelo, Busch Locations: Wall, Silicon

☆ Activists ease up on Salesforce — plus, 10 other Club stocks traded by Wall Street pros
▼ + stars: | 2023-08-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. His firm still owned about 2 million Salesforce shares as of June 30. Tepper also bought 2.3 million shares of Advanced Micro Devices (AMD) and 480,000 shares of Apple (AAPL) during the second quarter. As a result, Appaloosa's holdings as of mid-August may differ significantly from the conclusion of the second quarter. GOOGL YTD mountain Alphabet YTD performance Bets on Google's parent company, Alphabet (GOOGL), varied in the second quarter.

Persons: Dan Loeb's, Jeff Smith's, Salesforce, Jeffrey, Starboard's Jeff Smith, Smith, he's, 13Fs, it's, Marc Benioff, Mason Morfit, Paul Singer's Elliott, Elliott, Elliott —, Nelson Peltz's, Bob Iger, Peltz, David Tepper, Tepper, Bill Ackman's, Seth Klarman, Loeb, Klarman, Stanley Druckenmiller, Druckenmiller, Eli Lilly, That's, Jim Cramer's, Jim Cramer, Jim, Kim Kulish Organizations: Inclusive Capital, CNBC, Paul Singer's Elliott Management, Constellation, Club, Constellation Brands, Corona, Modelo, DIS, Disney, Management, Walt Disney Co, Peltz, Nvidia, Appaloosa Management, Microsoft, Micro Devices, Apple, AMD, Bill Ackman's Pershing, Capital Management, Oracle, Duquesne Family Office, Jim Cramer's Charitable, Corbis, Getty Locations: Salesforce, Tuesday's

☆ These Club consumer stocks stand to gain as customers continue to economize
▼ + stars: | 2023-08-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Consumers looking to save money are scaling back on big-ticket discretionary purchases, while spending at Club name Costco Wholesale (COST) continues to thrive. Excluding impacts from changes in gasoline prices and foreign exchange, total company core-comparable sales were up 5% on an annual basis last month. Costco's "stronger than expected results are a signal it continues to take share in this difficult consumer environment," analysts at UBS wrote in a note. This strategy offers higher value proposition to customers, allowing the company to raise prices while still maintaining customer engagement. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, BUD, Raymond James, Anheuser, Molson, Elliott, Jim Cramer's, Jim Organizations: Club, Costco Wholesale, Costco, TAG, UBS, Constellation Brands, Modelo Especial, U.S ., Anheuser, Bush Inbev, Molson Coors, TAP, Constellation, Procter & Gamble, Tide, Gillette, Atlantic, Anheuser Bush, Elliott Management, CNBC, Corbis, Getty Locations: U.S, Teterboro , New Jersey

☆ Fall in Bud Light Sales Puts Dent in Beer Maker’s Earnings
▼ + stars: | 2023-08-03 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

Anheuser-Busch InBev, the global beer-making giant, on Thursday reported a sharp drop in sales and profit in the United States, as it counted the cost of a conservative-led boycott of Bud Light after the company’s collaboration with a transgender influencer. Bud Light has faced a backlash from conservative commentators and celebrities after Dylan Mulvaney, a transgender influencer, posted a promotion for the beer on social media in April. Bud Light was dethroned by Modelo Especial as the nation’s top-selling beer in retail sales in June. Constellation Brands, which sells Modelo in the United States, reported 7.5 percent growth in beer volumes in its most recent quarter, which ended on May 31, compared with the same period last year. Overall volume at Anheuser-Busch, which also sells Beck’s, Michelob, Stella Artois and many other brands, fell by more than 1 percent in the three months through June.

Persons: Bud Light, Busch, “, Dylan Mulvaney, Anheuser Busch, Stella Artois Organizations: Anheuser, Busch InBev, U.S, Modelo Especial, Constellation Brands, Modelo, Busch Locations: United States

☆ Bud Light owner AB InBev beats forecasts in quarter dominated by boycott
▼ + stars: | 2023-08-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Bud Light, made by Anheuser-Busch, sits on a store shelf on July 27, 2023 in Miami, Florida. Anheuser-Busch InBev , the world's biggest brewer, on Thursday smashed profit expectations during a quarter that saw a social media-driven boycott of its bestselling Bud Light beer in the U.S. AB InBev's U.S. revenues were down 10.5% in the second quarter, according to its results, as core profit fell 28.2%. In its earnings statement, AB InBev said research conducted on its behalf through a third-party firm showed 80% of 170,000 consumers surveyed were "favorable or neutral" towards the Bud Light brand. The company did not specifically mention the Bud Light boycott

Persons: Bud Light, influencer Dylan Mulvaney, Zak Stambor Organizations: Anheuser, Busch, Busch InBev, U.S, InBev, Bud, Constellation Brands, Modelo, InBev's, Insider Intelligence, Bud Light Locations: Miami , Florida, Belgium, United States

☆ Bud Light controversy cost AB InBev about $395 million in lost US sales
▼ + stars: | 2023-08-03 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The world’s largest brewer is counting the costs of being swept into a controversy over Bud Light in the United States. AB InBev said Thursday that US revenue fell 10% in the second quarter as sales of its top brand slumped. AB InBev responded by saying it took its responsibilities to investors seriously. “Most consumers surveyed are favorable towards the Bud Light brand and approximately 80% are favorable or neutral,” the drinks maker added. Like many other businesses, AB InBev has rolled out cost-cutting measures this year, as it seeks to defend its global lead.

Persons: Bud Light, Bud, influencer Dylan Mulvaney, Kid Rock, Ron DeSantis, ”, Mulvaney, Michel Doukeris, Stella Artois, — Juliana Liu Organizations: Hong Kong CNN, InBev, Revenue, Florida, Bud Light, Modelo Locations: Hong Kong, United States, North America, Canada, Belgian, Corona, China, Brussels, South Africa, Colombia

☆ Miller Light brewer benefits from Bud Light’s turmoil
▼ + stars: | 2023-08-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

That’s a drastic change from the same quarter a year ago, when Bud Light sales were higher than Coors Light and Miller Light sales combined. Net income for the second quarter grew to $342 million, up from $47 million in the same period a year earlier. Since then, sales of Bud Light have been consistently falling by more than 20% every week (compared to the same week prior) since April. In May, the seemingly unthinkable happened: Modelo Especial displaced Bud Light from its top-selling spot in the United States for the first time, ending a roughly two-decade run for Bud Light. The beer giant is set to announce earnings — which will fully cover the Bud Light sales slide — on Thursday.

Persons: Bud, That’s, Molson Coors, Bud Light’s, Bud Light Organizations: New, New York CNN, Molson Coors, Miller, Coors, Anheuser Busch, TAP, Light, Modelo Especial, Bud Light, Molson, Bud, Constellation Brands, Corona Locations: New York, United States

☆ Bud Light maker to lay off hundreds of US corporate staff after sales slump - CNN
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] FiILE PHOTO: 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. Picture taken October 21, 2020. REUTERS/Richa NaiduJuly 26 (Reuters) - Anheuser-Busch InBev (ABI.BR), whose Bud Light sales have recently slumped in the United States, will lay off hundreds of corporate staff in the country, CNN reported on Wednesday citing a company statement. The job cuts would represent less than 2% of total employees at the world's largest brewer, but would not include frontline staff like brewery and warehouse staff, drivers, field sales among others, CNN reported. Reporting by Gokul Pisharody in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Bud, seltzer, Richa Naidu, Bud Light, influencer Dylan Mulvaney, Gokul, Nivedita Organizations: REUTERS, Anheuser, Busch InBev, CNN, Busch, Budweiser, Constellation Brands, Modelo Especial, Thomson Locations: Chicago , Illinois, U.S, United States, Bengaluru

☆ Bud Light owner laid off hundreds of US workers, following months of backlash
▼ + stars: | 2023-07-27 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

The Bud Light owner has faced months of lagging US sales since April. The backlash began after transgender influencer Dylan Mulvaney posted a Bud Light promotion. The beer company has faced lagging sales and backlash after Bud Light's promotion with Dylan Mulvaney, a transgender influencer. The decision follows a months-long plunge in Bud Light sales. Bud Light has been embroiled in backlash since April when Mulvaney posted a Bud Light promotion on her Instagram.

Persons: Bud, influencer Dylan Mulvaney, Bud Light, Bud Light's, Dylan Mulvaney, Brendan Whitworth, —, Mulvaney Organizations: Anheuser, Busch, Wall Street Journal, Service, Privacy, Corporate, Bud Light, Modelo Especial Locations: Wall, Silicon, Mexican

☆ Bud Light maker Anheuser-Busch to lay off hundreds of corporate staff
▼ + stars: | 2023-07-27 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

An employee adjusts bottles of Bud Light beer at an Anheuser-Busch InBev facility in Virginia, Aug. 8, 2018. Beverage giant Anheuser-Busch InBev announced it will lay off hundreds of corporate employees as sales of its flagship lager Bud Light falter. Bud Light sales have sagged following a conservative boycott over its March Madness partnership with transgender social media influencer Dylan Mulvaney. Bud Light had 7% market share during that same period, the data found. The firm also found Bud Light sales dropped 28% for the week ending June 24 when compared with the same period last year.

Persons: Bud Light, Busch, Brendan Whitworth, Bud, influencer Dylan Mulvaney, Mulvaney, Bump Williams, Ron DeSantis, DeSantis, Bud Light's, —, Kevin Breuninger Organizations: Anheuser, Busch InBev, Beverage, CNBC, Busch, Constellation Brands, Modelo, Bud Light, Florida Gov, State Board of Administration, Mulvaney Locations: Virginia, U.S, Florida

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