Bud Light sales extend their drop but Michelob Ultra takes up some slack: report

By Steve Gelsi

Anheuser-Busch Inbev's Bud Light sales fell after 2023 boycott but the brewery made up some ground with Michelob Ultra and Busch Lite

Anheuser-Busch InBev's former No. 1 beer Bud Light has continued losing market share to Modelo from Constellation Brands Inc. and Coors Light from Molson Coors Beverage Co., but has made up some ground with Michelob Extra and Busch Light, the Wall Street Journal reported Friday.

A-B's (BUD) Bud Light's share of beer sales in U.S. stores fell to about 6.5% in the month ended July 6 from more than 7% at the end of April, according to market data reported by the WSJ. Coors Light from Molson Coors (TAP).

Constellation's (STZ) Modelo Especial beer and has remained No. 1 with about 9.7% of the market after passing Bud Light in early 2023 when a social media campaign featuring a transgender woman during March Madness sparked boycotts from Kid Rock and other conservative voices.

On the plus side, the sales drop by Bud Light has slowed from its a quick drop last year and Donald Trump in February endorsed it as a "great American brand" and said it deserves a "second chance."

In other good news for Anheuser-Busch, its Michelob Ultra brand has climbed into the No. 2 slot with 7.3% market share, ahead of the nearly 6% share for No. 4 Coors Light from Molson Coors (TAP) and ahead of Bud Light's 6.5% share.

Further down the list, Busch Light from Anheuser-Busch has also seen a rise in sales, although in total, the beer giant's total share of the beer market has dropped.

For the summer, Anheuser-Busch is planning to be visible at the Paris Olympics with a sponsorship of Team USA by Michelob Ultra, as well as country-music event sponsorships for Busch Light.

Anheuser-Busch's stock is currently down about 6.7% in 2024, compared to a gain of about 16% by the S&P 500 SPX.

Molson Coors stock is down about 14.3% this year, while Constellation Brands is up 1.7% this year.

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-Steve Gelsi

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07-19-24 1054ET

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