hotair.com Global beverage giant Anheuser-Busch InBev, parent company of such brands as Budweiser, Corona, Stella Artois, and many other notables â including the late and unlamented Bud Light â held their earnings call last evening. And, while they did beat expectations across their international business, the dead elephant in the room weighing on that positive news was the formerly popular blue cans everyone now loves to hate, thanks to InBev and AHB executives themselves â the very same Bud Light.
The numbers were as gruesome as zombie stage make-up.
âŠThe brewing giant revealed part of its plan to revitalize the brand Tuesday after it reported third-quarter earnings that beat expectations. The companyâs revenue fell nearly 14% from July to September in the U.S., its largest market, as Bud Light sales sank.
âŠBud Light sales are still lagging, as the brand dropped 29% in the four weeks ending Oct. 21 compared to same period a year ago, according to Nielsen data compiled by research firm Bump Williams Consulting. Sales have fallen nearly 19% this year, according to the firm. CNBC reached out to the company Anheuser-Busch for comment.
Anheuser-Busch is now trying to turn around the brandâs fortunes by marketing Bud Light through platforms it considers uncontroversial.
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Yeah, hence the phase “Go woke – go broke!”