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☆ Target Pride backlash adds to sales woes as culture wars rage in corporate America
▼ + stars: | 2023-08-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Target CEO Brian Cornell said "negative reaction" to the retailer's Pride merchandise hurt sales and contributed to the disappointing quarterly results that the company reported on Wednesday. He said the company saw behavior by some shoppers in June that "caused our teams to feel unsafe at work." He said the effort helps Target better reflect the communities it is in, which "adds tremendous value for our shareholders." When Target reported its results Wednesday, executives declined to estimate the financial hit from the Pride merchandise response. Some of the merchandise that came under fire was made by vendors rather than part of Target's own brands.

Persons: Brian Cornell, Cornell, Bud Light, influencer Dylan Mulvaney, Disney, Ron DeSantis, Michael Fiddelke Organizations: Target, Anheuser, Florida Gov, Associated Press Locations: Florida, North Carolina

☆ A Canadian cannabis company may soon own your favorite craft beer brands
▼ + stars: | 2023-08-08 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Canadian cannabis company Tilray is one of the biggest craft beer sellers in the US. On Monday, Anheuser-Busch said it was selling 8 craft beer brands to Tilray. Bud Light parent company Anheuser-Busch said on Monday that it was selling off eight of its craft beer brands to a Canadian cannabis company that's been inching into the craft beer space for quite some time now. It would make Tilray the 5th-largest craft beer company in the US, up from its 9th place ranking today, according to analysts from Jefferies. TD Cowen analysts said that craft beer sales declined 6% in 2021 and 9% last year.

Persons: Busch, Bud Light, Bud, that's, Jefferies, TD Cowen, Rafael Marchante, influencer Dylan Mulvaney Organizations: Anheuser, Service, Bud Light, Brands, Breckenridge Brewery, Point Brewing Company, Brewing Company, Redhook, Widmer Brothers Brewing, Cider Company, HiBall Energy, Jefferies, Montauk Brewing Company, SweetWater Brewing Company, Breckenridge, Reuters, US, Busch, Wall, Tilray Locations: Wall, Silicon, Canada, New York, Breckenridge Distillery, Cantanhede, Portugal, Washington

☆ Adidas and AB InBev influencer hangover may return
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

LONDON, Aug 3 (Reuters Breakingviews) - Adidas (ADSGn.DE) and Anheuser-Busch InBev (ABI.BR) are showing some unexpected resilience in the face of influencer trouble. Belgium beer producer AB InBev, meanwhile, grappled with a different influencer headache. The world's largest brewer experienced an April consumer boycott after picking transgender influencer Dylan Mulvaney to promote its popular Bud Light brew. And while AB InBev say 80% of its consumers still look favourably or are neutral on Bud Light, the brand was dethroned as the top selling U.S. beer in May. Still, Adidas trades at 10 times its forecast 2025 EBITDA, below its peer Nike's (NKE.N) 16 times, and AB InBev trails Heineken (HEIN.AS) by an even larger margin.

Persons: Kanye West, Ye, influencer Dylan Mulvaney, Bud Light, Karen Kwok, Lisa Jucca, Sharon Lam Organizations: Adidas, LONDON, Reuters, Anheuser, Busch InBev, InBev, Heineken, Twitter, Thomson Locations: Garden City , New York, U.S, Belgium, North America, Mexico

☆ 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 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

☆ 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

☆ Molson Coors bumps up annual forecast on strong demand for premium beers
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Aug 1 (Reuters) - Molson Coors Beverage (TAP.N) on Tuesday raised its annual sales and profit forecasts, boosted by strong demand for its core brands Miller Lite and Coors Light. For the Americas segment, Molson Coors' net sales rose 10.7% in the second quarter as it shipped more premium beers. Molson Coors now expects full-year 2023 sales to grow in high single-digit percentage, on a constant currency basis. Annual underlying income before income taxes is expected to increase between 23% and 26%, on a constant-currency basis, compared with a low single-digit percentage increase forecast earlier. However, Molson Coors posted second-quarter sales of $3.27 billion, missing estimates of $3.29 billion, according to Refinitiv data.

Persons: Brown, Forman, InBev's Bud, influencer Dylan Mulvaney, Bud Light, Roth, Bill Kirk, Molson Coors, Savyata Mishra, Milla Nissi, Shounak Organizations: Molson Coors Beverage, Miller Lite, Anheuser, Busch InBev, Constellation Brands, Molson Coors, InBev's, Coors, Molson, Thomson Locations: U.S, Chicago, Bengaluru

☆ Ron DeSantis' newest problem: The majority of likely Republican primary voters don't want a candidate devoted to fighting 'woke'
▼ + stars: | 2023-07-31 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

GOP presidential candidate and Florida Gov. Likely Republican voters, however, told the New York Times they'd prefer the government stay away from limiting what corporations can support. Ron DeSantis' presidential campaign is in hot water after a majority of likely Republican voters said they want the government to stay away from influencing what corporations can and can't support. As he continues to double and triple-down on his anti-woke schtick, it doesn't seem like it's doing him many favors in the race to become the GOP presidential nominee. But as his presidential campaign falters and likely GOP voters make it clear that fighting "wokeism" isn't a priority, DeSantis keeps belaboring the point.

Persons: Ron DeSantis, Bud Light, it's, Donald Trump, falters, Dylan Mulvaney, Bud Light's, Sen, Marco Rubio Organizations: Florida Gov, Republican, New York Times, Service, GOP, AB InBev Locations: Wall, Silicon, Florida

☆ MrBeast’s Kris Tyson says she’s ‘so much happier’ after six months of hormone replacement therapy
▼ + stars: | 2023-07-31 | by ( Scottie Andrew | ) edition.cnn.com time to read: +2 min

CNN —Kris Tyson, a co-host of the massively popular MrBeast YouTube channel, is beaming in a new selfie taken after six months of hormone replacement therapy. Tyson came out as transgender earlier this month after sharing parts of her journey with hormone replacement therapy, or HRT. The treatment is prescribed to both trans and cisgender people, including menopausal women, who may undergo the therapy to reduce their symptoms. Every day living your life your own way is the best day every day.”In a July interview with Smosh’s Anthony Padilla, Tyson said that the treatment saved her life. Tyson assisted Donaldson with massive pranks and action-packed set pieces, but she said that her online fame held her back from coming out.

Persons: Kris Tyson, Tyson, ” Tyson, I’ve, Smosh’s Anthony Padilla, “ I’ve, ”, Padilla, Jimmy Donaldson, Donaldson, “, Chris, ’, ’ ” Tyson, “ Chris, ’ ” Donaldson, Dylan Mulvaney, Mulvaney, Bud Light, Kid Rock, misgendered Mulvaney Organizations: CNN, YouTube, Anheuser, Busch Locations: MrBeast

☆ Heineken CEO on Bud Light campaign fallout: 'You need to stand for your values'
▼ + stars: | 2023-07-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Heineken's chief executive says the company has learnt lessons from the social media controversy around a campaign for rival beer Bud Light — but still believes businesses should stand up for their "values." And that's affecting all players, all actors in society, also businesses and also brands," Dolf van den Brink told CNBC's "Squawk Box Europe." And at the same time, you need to stand for your values and your principles. Bud Light lost its spot as the top-selling beer in the U.S. in May, after conservatives boycotted the brand following a brief product placement deal with transgender social media influencer Dylan Mulvaney. Bud Light sales fell 24.6% in the period year-on-year, according to NielsenIQ data from consulting firm Bump Williams.

Persons: Bud Light, van den Brink, CNBC's, influencer Dylan Mulvaney, Bump Williams Locations: U.S

☆ Fact Check-Luke Bryan did not pull his videos from Country Music Television
▼ + stars: | 2023-07-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A satirical article which says American singer Luke Bryan pulled his videos from Country Music Television (CMT) and should be boycotted after the channel stopped airing a music video by country singer Jason Aldean is being shared by users who believe it to be fact. The text in one Facebook post (here) reads, “Luke Bryan pulls his videos from CMT over Jason Aldean debacle: “Folks, it’s time for the Bud Light treatment” ... read it below!”Another example can be seen (here). “It’s time for the Bud Light treatment” refers to a backlash and boycotts from some conservative Bud Light consumers after the beer brand’s collaboration with transgender influencer Dylan Mulvaney (here), (here). Reuters found no evidence online that Bryan did pull his music videos from CMT. Claims that country singer Luke Bryan pulled his music videos from CMT originates from a satirical website.

Persons: Luke Bryan, Jason Aldean, Jason Aldean’s, CMT’s, “ Luke Bryan, Bud, “, influencer Dylan Mulvaney, The Dunning, ”, Dunning, tomfoolery, Bryan, Read Organizations: Country Music Television, NBC, CMT, Tennessee Courthouse, Bud Light, Kruger Times, Defense, Reuters Locations: ”, African

☆ DeSantis' Bud Light brawl marks his latest move in anti-corporate gambit
▼ + stars: | 2023-07-28 | by ( James Oliphant | ) www.reuters.com time to read: +6 min

DeSantis trails Republican front-runner Donald Trump by more than 20 points nationally in the 2024 primary race. But a Republican lobbyist in Washington who represents several Fortune 500 companies said DeSantis’ approach is sound for winning the Republican primary. “DeSantis is doing what he’s doing because it's good politics,” said the lobbyist, who asked to remain unidentified so as to not take sides in the presidential race. A company spokesman told Reuters that "Anheuser-Busch InBev takes our responsibility to our shareholders, employees, distributors and customers seriously." On the trail, DeSantis has accused the Food and Drug Administration of being “captured” by the pharmaceutical industry.

Persons: Ron DeSantis, DeSantis, Donald Trump, Alex Conant, ” Conant, “, ”, Bob Iger, Trump, Bud Light, influencer Dylan Mulvaney, Trump’s, Donald Trump Jr, Bud Light’s, Morningstar, James Oliphant, Colleen Jenkins, Alistair Bell Organizations: Bud Light, Republican, Republican Party, Disney, Republicans, Reuters, Fortune, Democratic Party, Anheuser, Busch InBev, and Drug Administration, Thomson Locations: Florida, Washington, America

☆ 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 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

☆ 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

New York CNN —Beer maker Anheuser-Busch said Wednesday that it will lay off positions across its US corporate staff. The company’s website says that it employs “more than 19,000 employees nationwide.” Two percent of that figure would number about 380 positions. “Today we took the very difficult but necessary decision to eliminate a number of positions across our corporate organization,” said Anheuser-Busch CEO Brendan Whitworth. “While we never take these decisions lightly, we want to ensure that our organization continues to be set for future long-term success.”In May, Mexican lager Modelo Especial dethroned Bud Light as America’s top-selling beer, a title that Bud had largely held for more than two decades. The beer’s brand had been struggling due to the Dylan Mulvaney controversy, when the transgender influencer posted an Instagram photo of a custom can that Bud Light had sent her.

Persons: New York CNN — Beer, Busch, ”, Brendan Whitworth, Bud Light, Bud, Dylan, influencer Organizations: New, New York CNN, Anheuser, Busch, Bush US, Modelo Especial Locations: New York

His travel extended well outside of traditional hot spots for a primary campaign, including events in Wisconsin and Oklahoma. Now, DeSantis’ political operation says it is embracing his position as an underdog. But that leaves questions about one of the largest expenses on DeSantis’ first quarter fundraising reports: private travel. DeSantis’ campaign has paid nearly half a million dollars in travel expenses to a company that didn’t exist until two days before he launched his White House bid. In guidance to some donors and supporters, the campaign foreshadowed that they expect these interactions to show DeSantis’ “fiery” side.

Persons: Ron DeSantis, DeSantis, Donald Trump, ’, Generra Peck, pollster Ryan Tyson, Sam Cooper, Ethan Eilon, Nick Iarossi, ”, ” Iarossi, Peck, “, Adam Putnam, Trump, it’s, ” Iarossi siad, Elon, N2024D, Scott Wagner, Andrew Romeo, Bud Light, Dylan Mulvaney, Fox, Laura Ingraham, Don’t, ” Ingraham, Bud, “ They’re Organizations: CNN, Florida Gov, White, Trump, ”, N2024D, Tesla, New York Times, Republican, Fox, Disney, State Board of Education Locations: Florida, Utah, Park City, Tallahassee, Wisconsin, Oklahoma, Georgia, jetset, Miami, South Carolina

☆ Disney deja vu? DeSantis may be picking a fight with another business that did something he doesn't like
▼ + stars: | 2023-07-22 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

DeSantis has feuded with Disney for over a year, but now seems to have set his sights on Bud Light. DeSantis has directed an inquiry into AB InBev after Bud Light partnered with a trans influencer. DeSantis said Disney had "crossed the line" and that the state would "fight back." Disney sued DeSantis for retaliation and violating the company's First Amendment rights — a charge the governor and the state has denied. It's notable that DeSantis is taking issue with the financial fallout Bud Light has experienced as a result of partnering with Mulvaney — when DeSantis himself encouraged consumers to boycott the brand.

Persons: DeSantis, Bud, Bud Light, Ron DeSantis, didn't, Disney, influencer Dylan Mulvaney, there's, Mulvaney Organizations: Disney, InBev, Bud, Service, Gov, Parental, Fox News Locations: Wall, Silicon, Florida

Ron DeSantis has told his government to investigate whether Bud Light's parent company breached its duties to shareholders as a conservative backlash continues to rage over the beer brand's deal with transgender social media influencer Dylan Mulvaney. Shares of AB InBev are down about 2% this year, while the broader market is up. Sales of Bud Light have plummeted in the wake of conservative uproar and a boycott over the Mulvaney partnership. The firm also found Bud Light sales are down by about 25% from last year. Mulvaney has criticized Bud Light for not standing by her during the boycott.

Persons: Ron DeSantis, Bud Light's, influencer Dylan Mulvaney, DeSantis, Lamar Taylor, Bud Light, Bump, Bud, there's, Florida's, Disney, Donald Trump's, Taylor, Mulvaney, I've Organizations: Florida, United, Israel Summit, Crystal Gateway Marriott, Florida Gov, Republican, State Board of Administration, SBA's, InBev, Constellation Brands, Especial, Anheuser, Busch InBev, CNBC, Fox, Disney, Trump, GOP, NBC Locations: Arlington , Virginia, U.S, Florida

☆ Here’s how Bud Light became the latest corporate bogeyman for Ron DeSantis
▼ + stars: | 2023-07-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +10 min

Partnering with a young, popular trans woman could help a brand like Bud Light reach a more youthful demographic. But because Bud Light managed to alienate everyone, it hasn’t gotten the benefit of a buycott. In the week ending on July 8, Bud Light sales, by dollar, fell nearly 24% year-over-year, according to data provided by Williams. Others are more breezy, showing people enjoying Bud Light despite the inconveniences of summer (sunburn, thunderstorm). Bud Light is “coming back,” said Marcel Marcondes, AB InBev’s chief marketing officer, during the Cannes Lions International Festival of Creativity in June.

Persons: Ron DeSantis, Bud Light, influencer Dylan Mulvaney, Bud, BUD, “, Mulvaney, Lamar Taylor, “ prudently, DeSantis, Taylor, Scott Olson, Bud Light’s, Dylan Mulvaney, Anheuser Bush, — Anheuser, Brendan Whitworth, ”, LIV, Rob Carr, buycotts, hasn’t, Bump Williams, Williams, Busch, Whitworth, ” Whitworth, Marcel Marcondes, ” Daniel Korschun, ” Korschun, Erin Reed, Elon Musk, he’s Organizations: New, New York CNN, Florida Gov, Republican, Bud Light, Anheuser, Busch InBev, State Board of Administration, AB InBev, CNN, Busch, “ Anheuser, Gallup, — Anheuser Busch’s, America, Trump National Golf Club, Modelo Especial, InBev’s, Cannes Lions International, Creativity, Drexel University, InBev, Republicans, Target, Twitter, Tesla, Disney Locations: New York, Florida, Sterling , Virginia, Central Florida

☆ Bud Light has been embroiled in backlash since a beer promotion by a transgender influencer. Here's a timeline of how the controversy has played out.
▼ + stars: | 2023-07-21 | by ( Grace Mayer | ) www.businessinsider.com time to read: 1 min

As the backlash unfolded, Mulvaney remained relatively quiet about the matter on her social media platforms. Then on April 11, Mulvaney spoke out about the criticism she received on the podcast "Onward with Rosie O'Donnell." "I think it comes back to the fact that these people, they don't understand me, and anything that I do or say somehow gets taken out of context and is used against me," Mulvaney said. "It's trying to connect with others that maybe don't understand me. It's to make people laugh, or to make a kid feel seen."

Persons: Mulvaney, Dylan Mulvaney, Lester Cohen, I've, Rosie O'Donnell, It's

☆ Gay Water, a new canned cocktail, wants to be the anti-Bud Light
▼ + stars: | 2023-07-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +5 min

New York CNN —In a sea of canned cocktails, Gay Water wants to stand out. In other words, where Bud Light has buckled under pressure as bigotry grows against the LGBTQ+ community, Gay Water’s creator Spencer Hoddeson wants his new boozy brand to be the antithesis of that. The canned cocktail is named after a colloquialism given to the popular mixed drink (vodka and soda) ordered at bars by the gay community. He thought of creating Gay Water about a year ago while on a vacation with his friend that had got a job within the beverage industry. Big onlineHoddeson built up a strong social media following on TikTok and Instagram during Covid-19 and is using some of the money from that (as well as from friends and family) to help fund Gay Water.

Persons: Bud, Gay, Spencer Hoddeson, Bud Light, ”, influencer Dylan Mulvaney, they’re, It’s, Hoddeson, “, it’s, ” Bryan Roth, seltzer, ” Roth, Gay Beer, Hoddeon Organizations: New, New York CNN, CNN, Anheuser, Busch, Nickelodeon, Feel Goods Company Locations: New York, Covid, United States

☆ Morgan Stanley upgrades Anheuser-Busch InBev, says it's attractive valued after Bud Light controversy
▼ + stars: | 2023-07-20 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Anheuser-Busch InBev is a buying opportunity even after its controversial handling of a social media campaign involving a transgender influencer, according to Morgan Stanley. Simon called the parent company behind Bud Light a top pick that's attractively valued after its decline this year. "We see a very favourable risk reward underpinned by attractive valuation," Simon wrote to clients on Thursday. BUD 1D mountain Anheuser-Busch InBev shares 1-day The analyst raised her price target to $68.50 from $64, which represents about 17% upside for Anheuser-Busch InBev from Wednesday's closing price. Anheuser-Busch InBev has come under pressure in the U.S. this year after it partnered with transgender influencer Dylan Mulvaney for promotions of Bud Light.

Persons: Morgan Stanley, Sarah Simon, Simon, Bud Light, Bud, BUD, influencer Dylan Mulvaney, — CNBC's Michael Bloom Organizations: Anheuser, Busch InBev, Busch, Brewers Locations: U.S

☆ Bud Light lost its crown as America's 'King of Beers' — but it was going to happen even without the conservative boycott
▼ + stars: | 2023-07-17 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

Modelo passed Bud Light, which has been the subject of a boycott by conservatives. It recently took the crown from Bud Light, which saw its market share drop to 7%. "Modelo and Michelob Ultra (another Anheuser-Busch brand) both were on track to eventually overtake Bud Light," Maloney wrote, citing long-term market share data. "Everybody kinda figured Bud Light was getting hit by that boycott, so it fell out of No. But Neil Reid, a professor at the University of Toledo who studies the beer industry, told Reuters that the Bud Light boycott is lingering longer than expected.

Persons: Bud Light, El Rey, Bump Williams, influencer Dylan Mulvaney, Jennifer Maloney, Bud Light's, Maloney, Jack Hough, Light, Hough, Corona, Neil Reid Organizations: Modelo, Service, Anheuser, Street Journal, Busch, Fox, Northwestern University, University of Toledo, Reuters, Bud Light Locations: Wall, Silicon, El, Modelo

☆ A former Anheuser-Busch exec has become one of the Bud Light maker's fiercest critics
▼ + stars: | 2023-07-14 | by ( Grace Mayer | ) www.businessinsider.com time to read: +7 min

Anson Frericks, a former executive at Anheuser-Busch, has criticized how the company has handled the backlash against Bud Light. Now, Anheuser-Busch has gotten involved with issues that he's been fighting against, Frericks told Insider. Anheuser-Busch US CEO Brendan Whitworth hasn't explicitly defended the Bud Light partnership with influencer Dylan Mulaney, nor has he called it a mistake. The dip in Bud Light sales persisted through the end of June, USA Today reported. In a TikTok video posted at the end of June, Mulvaney alleged that Bud Light never reached out to her following the onslaught of hate she received.

Persons: Anson Frericks, Bud Light, Bud, influencer Dylan Mulvaney, Brendan Whitworth, Mulvaney, Whitworth, Frericks, he's, Busch, He's, Vivek Ramaswamy, Marc Benoiff, Brendan Whitworth hasn't, influencer Dylan Mulaney, Getty, LAURIE DIEFFEMBACQ, Dylan Mulvaney Organizations: Anheuser, Busch, Service, Whitworth, CBS, Newsweek, Street, Fox News, Daily Mail, Fox, Bud, MAG, AFP, Pride Month, Human, USA Locations: Wall, Silicon

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