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☆ Booze sales fall back to earth — except for one retailer
▼ + stars: | 2024-11-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

That has forced Remy Cointreau, whose stock has fallen 50% for the year, to slash its full-year guidance and expects another year of double-digit declines in sales. The declines are a “normalization” within the industry, with alcohol sales nearing their pre-Covid levels, according to Marten Lodewijks, IWSR’s president for the US division. Cheaper private labels have had a boon in sales, mirroring a larger trend of customers seeking more affordable options in all aspects of their life. Aldi’s lineup is growing double digits in sales, bucking the broader industry trends of declines, Arlin Zajmi, director of national buying for adult beverages, told CNN. Aldi has seen its wine and beer sales soar.

Persons: Remy Cointreau, Pernod Ricard, Jose Cuervo, Proximo, ” Lisa Hawkins, ”, Luca Marotta, Remy Cointreau’s, Jameson, Kahula, Hélène de Tissot, Marten Lodewijks, bottlers, Arlin Zajmi, Scott Olson, it’s, ” Zajmi, ” Bryan Roth Organizations: New, New York CNN, Anheuser, Busch, CNN, Spirits, Consumers, Aldi Locations: New York, United States

☆ Retailers brace for DEI blowback in lead-up to election, holiday shopping season
▼ + stars: | 2024-11-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. Anheuser-Busch, the brewer of Bud Light has faced backlash after the company sponsored two Instagram posts from a transgender woman. Retailers are facing a tough equation as they head into the all-important holiday shopping season — this time over DEI initiatives. CNBC spoke with a number of retail industry insiders, strategists and staffers who spoke on the condition of anonymity to do so candidly. Last year, Anheuser-Busch -owned Bud Light and Target faced severe blowback for marketing campaigns and product collections geared toward the LGBTQ community and saw sales fall as a result.

Persons: Bud, Bud Light, Robby Starbuck, it's, Molson Coors Organizations: Anheuser, Busch, CNBC, Retailers, Supply, Ford, Molson, Pride, Human Rights, Google, Supreme, Bud Light, Target Locations: Arco , Idaho

☆ Brewer AB InBev softens third-quarter miss with share buyback, guidance raise
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: +1 min

AB InBev Budweiser and Bud Light brand beer cans at a store in the Queens borough of New York on Feb. 28, 2024. Anheuser-Busch InBev on Thursday reported third quarter profits, revenues and volumes all well behind forecasts, as the top brewer sold less beer in key markets like the United States, Mexico and China. The world's largest beer maker however also raised its full-year guidance and announced a $2 billion share buyback over the next 12 months. Its revenues and volumes, meanwhile, saw a 2.1% rise and 2.4% decline respectively, compared to analyst forecasts for a 3.4% increase and 0.4% decline. Revenues and volumes were down 16.1% and 14.2% respectively in China, with AB InBev flagging particular weakness in sales in venues such as bars and restaurants.

Persons: Michel Doukeris, Stella Artois Organizations: InBev Budweiser, Bud Light, Anheuser, Busch InBev, InBev Locations: Queens, New York, United States, Mexico, China

☆ 14 earnings reports and major economic data will be the stock market movers this week
▼ + stars: | 2024-10-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The Street is looking for Stanley Black & Decker sales of $3.8 billion in the third quarter and earnings per share (EPS) of $1.05. The Street is looking for Linde sales of $8.35 billion in the third quarter and EPS of $3.89. In addition to the headline results and forward guidance, overall organic sales growth and data center energy power demand will be focus items for investors. The Street is looking for sales of $94.47 billion in its fiscal fourth quarter and EPS of $1.55. The Street is looking for Coterra sales of $1.3 billion in the third quarter and EPS of 34 cents.

Persons: That's, It's, Stanley Black, Decker, we're, We're, Eli Lilly, Lilly, Amy Hood's, Brian Niccol, Wednesday's, Linde, it's, we'll, Phillips, Horton, Kraft Heinz, SIRI, Estee Lauder, BUD, Cardinal Health, Jim Cramer's, Jim Cramer, Jim, Stephanie Keith Organizations: Nasdaq, Dow, Fed, PCE, YouTube, Justice, AMD, GE Healthcare, Reality Labs, Microsoft, Management, Starbucks, U.S, Presidential, Linde, Apple Intelligence, Amazon, Services, Coterra Energy, WM, Cadence Design Systems, Labor, PayPal, BP, Pfizer, Royal Caribbean Cruises, JetBlue, HSBC, Devices, Grill, Electronic Arts, EA, Gross, Caterpillar, Brinker International, AFortive Corporation, Illinois Tool, Coinbase, eBay, EBAY, Booking Holdings, MGM Resorts, MGM, Bausch Health, LIN, Merck, ConocoPhillips, Mastercard, Altria, Cruise, Myers Squibb, Comcast, Mobileye, Cheniere Energy, Regeneron Pharmaceuticals, Anheuser, Busch InBev, Intel, United States Steel, Juniper Networks, Chevron, Exxon Mobil, Dominion Energy, Charter Communications, LyondellBasell Industries, Cardinal, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Eaton, Corning, Illinois, Bristol, New York City

☆ 'The choice of the people': How Modelo and Corona maker Constellation Brands won the loyalty of Hispanic consumers in the U.S.
▼ + stars: | 2024-10-12 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Riojas is part of a base of Hispanic consumers that has become a focal point for Constellation Brands' beer business, which also includes products such as Corona and Pacífico. Hispanic- and Latino-identifying customers accounted for 32.5% of Constellation Brands' sales in 2023, according to data from consumer research firm Numerator and investment bank Jefferies. "Hispanic consumers are the single most important consumer group for our beer business," said Mallika Monteiro, executive vice president and managing director for Constellation's beer brands. The company officially acquired the U.S. beer business of Groupo Modelo, which included Modelo and Corona, from Anheuser-Busch in 2013. "Time and time again, you see that there's that strong bond that consumers form emotionally with brands," Aguirre-Rodriguez said.

Persons: Mario Tama, Rio Riojas, It's, Modelo, Bud, Mallika Monteiro, we've, Alexandra Aguirre, Rodriguez, Constellation's Monteiro, Monteiro, FIU's Aguirre, Aguirre, Kaumil Gajrawala, Gajrawala, William Newlands, Tom Fullerton, bode Organizations: Modelo Especial, Getty, Rio, Constellation Brands, Corona, Modelo, Constellation, Jefferies, Anheuser, Busch, Groupo Modelo, Florida International, University of Texas Locations: Los Angeles , California, Lansing , Michigan, U.S, Mexico, Corona, York, America, Modelo, El Paso, Americas

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Microsoft, Wells Fargo, Disney, Apple, First Solar & more
▼ + stars: | 2024-10-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We reiterate our Overweight rating on the name as NVDA remains our Top Pick." JPMorgan reiterates Charles Schwab as overweight JPMorgan raised its price target on the stock to $86 per share from $78. "We are initiating coverage of Morningstar (MORN) with a Buy rating and a $390 price target. Wells Fargo reiterates Tesla as underweight Wells says it remains "skeptical" heading into Tesla's robotaxi day later this week. "We are initiating coverage of MBX Biosciences with an Overweight rating and Dec 2025 price target of $30."

Persons: Cantor Fitzgerald, Cantor, TD Cowen, Cowen, Wolfe, Wells, Bernstein, Oppenheimer, Goldman Sachs, Milton, Irma, JPMorgan, Charles Schwab, Morningstar, Redburn, Goldman, Tesla, TSLA, Key, Affirm's, it's, Morgan Stanley, it's bullish, Abbott, Susquehanna, KeyBanc Organizations: Anheuser Busch InBev, InBev, Humana, STARS, Microsoft, Disney, JPMorgan, UBS, Biotech, Legend Biotech, Barclays, Optimus, Qualcomm, Express, American Express, Netflix, Bicara Therapeutics, Abbott Labs, Howmet Aerospace, Commercial Aerospace & Defense, Bank of America, Apple, MBX Biosciences, Delta, Argus, McDonald's Corp Locations: China, Wells Fargo, F4Q17, 1H26, Tesla's

☆ Hard Seltzers and Canned Cocktails Are Getting Boozier
▼ + stars: | 2024-10-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

Hard seltzers, spiked seltzers, and their ilk have been marketed as lighter than traditional alcoholic beverages. In the 2010s, the hard seltzers started to pop up, with names like White Claw and Truly, both of which launched in 2016. Advertisement"During the pandemic, hard seltzers really blew up, and I think hard seltzers are one of those ones that were perceived as a little bit of a better-for-you option," said Kaleigh Theriault, an associate director of beverage-alcohol thought leadership at NIQ, a market research firm. The market got saturated, and people started to realize there could be a lot more to canned alcohol than beer and hard seltzers. "So companies are having to innovate more and more, and that has led to some higher-ABV canned cocktails."

Persons: they've, aren't, seltzer, Kaleigh Theriault, that's, NIQ, Chris Budzik, Cayman Jack, there's, Kate Bernot, Bernot, you've, " Theriault, It's, Bud, —, Bud Light, Budzik, he'd, Will, Emily Stewart Organizations: Brands, Anheuser, Busch InBev, NIQ, AB InBev, Coca, Modelo, Business Locations: seltzers, Manhattan, NIQ, Pennsylvania, Michigan, Vermont, America

☆ Modelo brewer Constellation falls despite an earnings beat. Here's why we're not concerned
▼ + stars: | 2024-10-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

Modelo and Corona brewer Constellation Brands is a tale of two businesses. Constellation Brands Why we own it : Constellation Brands' beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico, is the growth engine and by far the most attractive part of the business. And, the profitability of its beer business — operating margins were an impressive 42.6% in the quarter — puts Constellation in a position of strength. Still, raising an anchor is always welcome news, and talk of its booming beer business would, at last, no longer need the wine-and-spirits caveat. Looking ahead, its beer business should continue grabbing market share and its hard to imagine the wine-and-spirits unit getting much worse.

Persons: Bill Newlands, Thursday's, Newlands, Kim Crawford, There's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Corona, Constellation Brands, LSEG, Modelo, Anheuser, Busch Inbev, Molson Coors, Investors, Constellation, National Football League, Bloomberg, Brier, Modelo Especial, CNBC Locations: Corona, Pacifico, Wednesday's, U.S, Campo, West Coast, San Rafael , California

☆ Stocks making the biggest moves premarket: Ford, Clorox, Boeing, Pinterest and more
▼ + stars: | 2024-10-01 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

Ford Motor — The automaker jumped 2.3% after Goldman Sachs upgraded shares to buy from neutral. CVS Health – Shares rose 2% after CNBC, citing people familiar with the matter, reported that CVS is working with advisors on a strategic review of its business. Clorox — Shares of the household supplies company rose more than 1.5% after an upgrade to buy from hold at Jefferies. Pinterest — Shares of the online platform added 3.3% after Goldman Sachs added Pinterest to its "Americas Conviction List." Datadog — The cloud analytics company rose 1.7%.

Persons: Goldman Sachs, Raymond James, Ric Prentiss, Clorox, Pinterest, Datadog, Davidson, Oppenheimer, — CNBC's Sean Conlon, Sarah Min, Samantha Subin, Pia Singh, Michelle Fox, Jesse Pound Organizations: Ford, Super, Disney —, CVS, CNBC, Reuters, Anheuser Busch InBev, Citi, Anheuser, Busch, Jefferies, Boeing, Bloomberg, Alcoa, Bank of America

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Tesla, Ford, Clorox, Netflix, Pinterest & more
▼ + stars: | 2024-10-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley initiates LatAm Airlines at overweight Morgan Stanley says shares of the Latin American airline are undervalued. " Morgan Stanley reiterates Tesla as overweight Morgan Stanley says it's sticking with Tesla ahead of the company's robotaxi day. Bank of America upgrades Alcoa to buy from neutral The firm says the aluminum company is uniquely positioned. Goldman Sachs upgrades Ford to buy from neutral Goldman says it likes the auto giant's "opportunity in software and services." Morgan Stanley reiterates Nvidia as overweight Morgan Stanley says it's standing by the dominant maker of AI processors.

Persons: Morgan Stanley, LTM, Tesla, Oppenheimer, it's, Goldman Sachs, Goldman, Raymond James, Atlassian, Hewlett Packard, it's bullish, Jefferies, KeyBanc, Davidson, Patrick, Wells, Nvidia's Blackwell, Raymond James downgrades Disney Organizations: LatAm, Bank of America, Alcoa, AA, Barclays, Apple, Citi, Anheuser, Busch InBev, Ford, HP, Meta, Google, YouTube, UBS, Netflix, Resources Locations: U.S, Mexico, Florida, Parks

☆ Rebel Wilson has married her fiancée Ramona Agruma, 2 years after she was almost outed by a reporter
▼ + stars: | 2024-09-29 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +3 min

Rebel Wilson and her fiancée Ramona Agruma married in Italy on September 28, per People. Wilson announced her relationship with Agruma in June 2022 after she was almost outed by a reporter. AdvertisementRebel Wilson and her partner Ramona Agruma are now married. Instagram/Rebel Wilson (@rebelwilson)Before dating Agruma, Wilson's last publicly known relationship was with Jacob Bush, a member of the Anheuser-Busch family, per Forbes. I end with, 'So in this cliché way, on this cliché day, Ramona Agruma, will you marry me?'

Persons: Rebel Wilson, Ramona Agruma, Wilson, Agruma, —, Royce Lillian Elizabeth, Instagram, Wilson's, Jacob Bush, Busch, Bush, Lemon, …, Andrew Hornery, Hornery, Scott Eisen, Airbnb Wilson, Ramona Organizations: Service, Business, Anheuser, Forbes, Disney, Sydney Morning Herald Locations: Italy, Australian, Sardinia, Lemon Limon, Los Angeles

☆ Nonalcoholic drinks: Some experts are calling for age restrictions on sales
▼ + stars: | 2024-09-20 | by ( Brenda Goodman | ) edition.cnn.com time to read: +7 min

The market for nonalcoholic drinks has been growing as more people — notably younger adults — look to cut their alcohol use. Bowdring says there’s emerging evidence that nonalcoholic beverages may prime kids to switch to the real thing. Surveys of elementary, middle and high school students in Japan, where the legal drinking age is 20, found that 20% to 30% said they were drinking nonalcoholic beverages. So minors in those states can buy nonalcoholic drinks but not those with low levels of alcohol. For minors, there’s no benefit in consuming nonalcoholic drinks, and there is some evidence of potential harm, she said — which is why she thinks states need to step in to curb sales.

Persons: ”, Molly Bowdring, Kristen Bell, Kelly Clarkson’s, “, Bowdring, who’d, Leon Booth, ” Booth, ” Lisa Hawkins, Busch, officiais, Dr, Sanjay Gupta, there’s Organizations: CNN, Stanford Prevention Research, George Institute for Global Health, Budweiser, “ Anheuser, Beer, Constellation Brands, District of Columbia, Get CNN, CNN Health Locations: Corona, Japan, Taiwan, Australia, New South Wales, Georgia, Idaho, Florida, Kansas

☆ Here are Tuesday's biggest analyst calls: Apple, Costco, Nvidia, Palantir, Broadcom, Tesla, Amazon, Meta & more
▼ + stars: | 2024-09-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"We launch coverage of GE Aerospace with an Outperform rating, target price $201." (ELF) with a Buy rating and a 12-month price target of $175 per share." "We initiate with a Buy rating on Harmony , a commercial stage biotech focused on CNS [central nervous system] disorders." "We are initiating coverage of ProKidney Corp. (PROK) with a BUY rating and $6 price target." We are initiating coverage with a BUY rating and $600 price target."

Persons: Morgan Stanley, Apple, Tesla, it's, Bernstein, Riley, Wolfe, Stryker, BUD, JMP, Redburn, BTIG, Palantir, Goldman Sachs, Nutrien, Goldman, Cantor Fitzgerald, Cantor, Melius, Johnson, Guggenheim, it's bullish, D.A, Davidson, Meta Organizations: Apple, Apple Intelligence, Intelligence, Deutsche Bank, Deutsche, GE Aerospace, GE, Inc, Anheuser, Busch InBev, Oracle, Costco, Equity, Haemonetics, Plasma Solutions, Blood Center, Hospital Care Solutions, " Bank of America, Bank of America, UBS, Amazon, Harmony Biosciences, NTR, Nvidia, Broadcom, Johnson, Johnson Controls, ProKidney Corp

☆ Stocks making the biggest moves before the open: Apple, Oracle, Boot Barn, Mission Produce and more
▼ + stars: | 2024-09-10 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Mission Produce — The avocado producer surged 21.6% after reporting revenue for the fiscal third quarter jumped 24% from a year ago. The company reported sales of $324 million, compared with $261.4 million in the same three-month period one year before. Boot Barn — Shares rose 6% after the Western-style retailer provided an update on its recent performance ahead of a Piper Sandler Growth Frontiers Conference presentation. Boot Barn announced preliminary consolidated same-store sales growth of 4% in its fiscal second quarter. Johnson Controls International — Shares rose nearly 2% after JPMorgan upgraded the stock to buy from neutral.

Persons: Piper Sandler, LSEG . Patterson, Alibaba, Morgan Stanley, Wells Fargo, —, Samantha Subin, Sean Conlon, Lisa Kailai Han, Jesse Pound, Yun Li, Scott Schnipper Organizations: Growers, Oracle, LSEG, Apple, Hewlett Packard Enterprise, Juniper Networks, Revenue, UTI Energy, Hong, Reuters, Johnson, JPMorgan, Anheuser, Busch Inbev SA, Equity Locations: California, U.S, Alibaba —, China, Hong Kong, Shanghai, Shenzhen, Wells

☆ Bank of America names 3 ETFs and a handful of stocks that will benefit from AI
▼ + stars: | 2024-08-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America has identified several stocks and exchange-traded funds (ETFs) poised to benefit from the growth in artificial intelligence. The Wall Street bank surveyed its fundamental equity team of 130 analysts, covering approximately 3,400 companies, to identify the companies that stand to gain from AI across various sectors. The bank believes the development of AI is the third major tech cycle over the past five decades. The earlier cycles are the growth of the internet and mobile phone devices. "Despite AI capital expenditure potentially reaching [$1 trillion plus] in the near term, we're only in 1996 relative to the internet," said Bank of America analysts led by Alkesh Shah, who compiled the stock picks, on Aug 5.

Persons: Alkesh Shah, — CNBC's Michael Bloom Organizations: of America, Budweiser, Anheuser, Busch InBev, ASM International, SAP Locations: U.S, Orange, British

☆ Social media keeps catching Wall Street off guard
▼ + stars: | 2024-08-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

In 2015, he created TickerTags, a social media data aggregator that tracks company mentions, and sold it to Jefferies' M Science. To be fair…Speculating and making decisions based on social media trends is a risky wager. Wall Street doesn't always respond to social media trends that could negatively drive fundamentals because there aren't tools to understand the impacts, McKeown noted. In the event a social media trend is mentioned, it's not factored into their valuation model, Ober added. How social media sentiment plays into a thesis should depend on an investor's time horizon.

Persons: It's, Bud Light's, influencer Dylan Mulvaney, BUD, Kirk McKeown, Chris Camillo, Jefferies, Camillo, Bud, didn't, Paul Johnson, Laxman Narasimhan, misperception, Sara Senatore, I've, Senatore, Chipotle, Keith Lee, dollies, Brian Niccol, Goldman Sachs, They're, Matt Ober, they're, I'd, McKeown, it's, Ober Organizations: Service, Business, Anheuser, Busch, Wall Street, Pew Research Center, Molson, TAP, Starbucks, Nicusa Investment, Columbia Business School, of America Locations: Palestine, Gaza, SBUX

☆ AB InBev CEO Michel Doukeris on global demand: We have a resilient strategy for all occasions
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAB InBev CEO Michel Doukeris on global demand: We have a resilient strategy for all occasionsAnheuser-Busch InBev CEO Michel Doukeris joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the consumer, global demand outlook, weakening China demand, Olympic sponsorship, and more.

Persons: Michel Doukeris Organizations: Email, Anheuser, Busch InBev, Olympic Locations: China

☆ Companies failed to solve injustice and now they are giving up on the era of activism
▼ + stars: | 2024-07-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Corporate America gave social activism a go. And sales of Bud Light have taken a hit ever since. Bud Light didn’t handle fallout well — it capitulated to the angry mob and dropped Mulvaney even as she faced a barrage of threats. It caught fire as right-wing media fueled the swirl of negativity around Bud Light, framing it as “wokeism” gone amok. On Thursday, the Guardian reported that the Bud Light boycott was fueled in part by the right-wing activist Leonard Leo.

Persons: CNN Business ’, Bud Light, America John Deere, Kara Swisher, ” Let’s, George Floyd, ” —, Larry Fink, We’d, Reagan, That’s, Disney’s, Bob Chapek, Ron DeSantis, influencer Dylan Mulvaney, ”, Bud, Leonard Leo, Leo Organizations: CNN Business, New York CNN — Corporate America, Tractor, Pride, CNN, BlackRock, Business, Corporate America, Florida’s Republican Gov, Guardian, Bud Light, Anheuser, Busch, Federalist Society, America Locations: New York, America

☆ The ‘first’ post-Covid Olympics are exciting sponsors. Fans? Not so much
▼ + stars: | 2024-07-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +10 min

In a first, Anheuser-Bush InBev is the beer sponsor for the Olympic games with a non-alcoholic brew taking the torch. “If you think about the Olympics … it’s about travel, dining, culture, excitement, community.”All of those things meet every four years at the Olympics, which brings together millions of fans and thousands of athletes. Paris, a city known for its opulence, plays host this year to the first post-Covid games without any crowd restrictions for the first time in six years. (Both the summer games in Tokyo 2021 and 2022 winter games in Beijing either barred or limited spectators or visitors.) Even the most recent summer games, held in 2021 Tokyo and that barred spectators at the events, registered a 20% increase.

Persons: Chase, it’s, Sam Palmer, Chase Sapphire, Alexandre III, Olympia De Maismont, ”, Louis Vuitton, Yannick Allen, Taylor Swift, Vincent Koebel, ” Carolyn Addison, Maja Hitij, De Maismont, Paul Caine, ” Caine, “ It’s, Emmanuel Macron, Yoan, Roland Garros, Caine, there’s, “, Corona, Kenzo Tribouillard, Cero, Marcel Marcondes, ” Chase’s Palmer Organizations: New, New York CNN, Sapphire Reserve, Omega, Anheuser, Bush InBev, Getty, Sapphire, CNN, Paris, Paris Olympic Games, Raffles, Southern Hemisphere, Delta Air Lines, Team USA, Air, Hotel de Ville, Eiffel, Michelin, luxe, International Olympic Committee, Busch InBev, Corona, ” Anheuser, ” Locations: New York, Paris, AFP, Tokyo, Beijing, France, Tuileries, Provence, Nice, Rio de Janeiro, Accor, Rio, Air France, Hotel de, Tahiti, French, United States

☆ Bud Light loses more ground, slipping to No. 3 in America
▼ + stars: | 2024-07-18 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Bud Light, formerly the top-selling beer in the United States, has had a tough year since a boycott upended the industry. Modelo Especial, made by rival Constellation Brands, remains the top-selling beer at retailers in the US after surpassing Bud Light last year. For the past four weeks ending on July 6, Bud Light captured 6.5% of beer dollar sales at retail stores compared to 7.3% for Michelob Ultra, NIQ data shows. Michelob Ultra’s rise to the top isn’t solely because of the decline of Bud Light. For Bud Light, its marketing efforts pivoted to win back conservatives.

Persons: Bud Light, leapfrogged Bud, Bud Light’s, influencer Dylan Mulvaney, It’s Organizations: New, New York CNN, Anheuser, Busch, Especial, Constellation Brands, Modelo, Industry, Copa America soccer, Team USA, US, UFC Locations: New York, United States

☆ Tractor Supply warned climate change and a lack of diversity would hurt business. Now it’s ignoring those risks
▼ + stars: | 2024-07-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Hal Lawton, the chief executive of the Brentwood, Tennessee-based company, had said these initiatives “make great business sense for Tractor Supply.”But Tractor Supply has decided that all of those risks are now worth ignoring. By walking away from diversity and climate goals, Tractor Supply has become the latest corporate giant to retreat from progressive initiatives it once promoted, joining Bud Light, Target and others. Tractor Supply declined to comment on these statements. Tractor Supply’s customer base has historically been primarily older men, who lean Republican, but Tractor Supply has increasingly tried to draw Millennials and women, who tend to favor Democrats. Tractor Supply’s reversal could hurt it with these customers, who could be crucial as the company’s historic base ages out of the market.

Persons: Hal Lawton, Bud, ”, Nooshin Warren, “ They’re, ” John Boyd, Steve Helber, Robby Starbuck, “, It’s, ” Boyd, Donald Trump, Joe Biden, ” Lawton, ” Eric Bloem, George Floyd, Bill Ackman, Elon Musk, They’ve, Chick, Bud Light, Jeff Chiu, Bud Light’s, influencer Dylan Mulvaney, CNN’s Eva Rothenberg Organizations: New, New York CNN, Tractor Supply, Supply, Human Rights, Bud Light, University of Arizona, National Black Farmers Association, AP Tractor Supply, Human, Tennessee’s, Congressional District, ”, Black Farmers Association, CNN, “, Tractor, Republican, Pew, Democratic, Disney, Nike, Anheuser, Busch InBev, Target Locations: New York, Brentwood , Tennessee, United States, America, Minneapolis

☆ Athletic Brewing raises $50 million as non-alcoholic wave sweeps brewing
▼ + stars: | 2024-07-09 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

The brewer plans to use the latest investment to increase production capacity and expand its offerings at global retailers to meet rising consumer demand for non-alcoholic beer. Leading non-alcoholic brewer Athletic Brewing Company announced Tuesday it's raised an additional $50 million in equity financing in a round led by General Atlantic. Athletic Brewing launched its non-alcoholic craft brewing facilities in 2018 and has since grown to become the 10th largest U.S. craft brewery and 20th largest overall U.S. brewing company, despite only offering non-alcoholic options, according to rankings by the Brewers Association. Athletic holds over 19% market share within non-alcoholic beer and is driving 32% of total non-alcoholic beer category growth, according to NielsenIQ data. Established beer companies like Heineken , Constellation Brands -owned Corona, Anheuser-Busch's Budweiser and even Diageo's Guinness have also hopped on the trend, introducing non-alcoholic beer offerings of their own.

Persons: Bill Shufelt, John Walker, We're, CNBC's, it's, Shufelt, Diageo's Guinness, We've Organizations: Athletic Brewing’s, Athletic, General, Athletic Brewing Company, General Atlantic, Athletic Brewing, Brewers Association . Athletic, Revenue, CNBC, Street, NCSolutions, Heineken, Constellation Brands, Corona, Anheuser, Budweiser Locations: Stratford , Connecticut, U.S, Milford , Connecticut, San Diego

☆ Gen Z wants flavorful drinks. Here’s how Big Beer is trying to attract them
▼ + stars: | 2024-07-04 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +7 min

That’s a problem for Big Beer, which is dealing with flat sales, declining volume and a fickle generation of younger drinkers who are completely ditching the bottle or preferring anything but a regular beer. It’s a non-carbonated drink because “bloating that may come from carbonation is considered a top barrier” for younger drinkers and the trend of “decarbonizing” drinks is blowing up on the app. Last year, it acquired Blue Run Spirits, a cult favorite high-end bourbon and rye whiskey brand, in light of US spirit sales surpassing beer sales. Its aptly titled “Beyond Beer” category is currently a $1.5 billion part of its global business and is helping attract younger, legally aged drinkers. Despite younger drinkers’ hesitance with buying beer and flat sales, Big Beer companies aren’t facing an existential threat.

Persons: youngs, Gen, NIQ’s Kaleigh Theriault, “, ” Theriault, Gallo, Mark Anthony Brands, Miller, flavorful, TikTok Constellation, Corona, ”, Saúl Trejo, TikTok, Molson Coors, Molson, ” NIQ’s Theriault, Bud Light, seltzer, Jason Lowrie, it’s, Bud, Bud Light Seltzer, Dylan, ’, “ Young, ” Bryan Roth Organizations: New, New York CNN — Beer, CNN, Beverages, Big Beer, Molson Coors Beverage Company, Modelo, Constellation Brands, Anheuser, Busch InBev, TikTok, Corona, Corona Refresca, Molson Coors, Molson, “ Suppliers, Busch, Feel Goods Company Locations: New York, Corona, carbonation

☆ Constellation delivers beer profits, but weakness in wine prompts a downgrade
▼ + stars: | 2024-07-03 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Constellation Brands reported an earnings beat on Wednesday that was driven by strength in its beer business. Constellation Brands Why we own it : We like Constellation Brands for its beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico. We would like Constellation to concentrate on beer and divest its wine and spirits business. We were again pleased to see that the increase in beer sales was driven by strong growth in shipment volume. Net sales are expected to increase 6% to 7%, driven by 7% to 9% growth in beer.

Persons: Bill Newlands, outperformance, Depletions, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Constellation Brands, Modelo, Anheuser, Busch Inbev, Molson Coors, Management, Modelo Especial, Modelo Chelada, Guidance Management, Enterprise, Jim Cramer's Charitable, CNBC Locations: Corona, Pacifico, Covid, U.S, San Rafael , California

☆ More companies are staying quiet during Pride, but money is still flowing to LGBTQ+ causes
▼ + stars: | 2024-06-30 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

A GLAAD spokesperson said Friday that the group has not seen donations or corporate support decline this Pride month, though it does not yet have a total tally. Pride Month merchandise is displayed at a Target store on May 31, 2023 in San Francisco, California. A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. Anheuser-Busch, the brewer of Bud Light has faced backlash after the company sponsored two Instagram posts from a transgender woman. For its part, Bud Light hasn't posted in support of Pride month on its Instagram or X pages this year.

Persons: Stephen J, Cohen, Bud Light, Luke Hartig, Tim Bennett, Bennett, Sarah Kate Ellis, Ellis, JPMorgan Chase, Booking.com, Joe Biden, Justin Sullivan, Bud, Target, Natalie Behring, Kid Rock, Ron DeSantis, influencer Dylan Mulvaney, Bud Light's, Michel Doukeris, Bud Light hasn't, Neil Reid, Reid, Tarang Amin, Tara Dziedzic Organizations: Getty, Gravity Research, D.C, Fortune, Tribury Productions, Procter & Gamble, GLAAD, Stonewall, Monument Visitor Center, New, Google, JPMorgan, Target, Pride Month, Anheuser, Busch, Busch InBev, Florida Gov, Constellation Brands, Modelo, InBev, UFC, RBC, University of Toledo, Fox News, The New York Stock Exchange, NYSE Locations: Louisville , Kentucky, Washington, New York City, San Francisco , California, Arco , Idaho, U.S, RBC Europe

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