Anheuser-Busch InBev's Bud Light brand has still not recovered in the U.S. more than a year since the beverage giant's controversial partnership with transgender influencer Dylan Mulvaney sparked a boycott of the beer.
In its first-quarter earnings released Wednesday, A-B reported a 2.6% increase in revenue globally, but a 9.1% decrease in America. Sales to retailers in the U.S. were down 13.7%, primarily driven by a drop in Bud Light volume, the company said.
Sales to wholesales in the U.S. market were also down by 10.1%, and the company's earnings before interest, taxes, depreciation and amortization (EBITDA) dropped by 19.7%.
Total volumes globally were down 0.6% in the quarter, with A-B's beer volumes down by 1.3%, but non-beer volumes were up by 3.5%.
