Henrietta's Beers of the World to Close in February
Beers of the World in Henrietta is closing at the end of February due to economic and industry changes, with reduced hours until then, while its Batavia location remains open.
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Beer Industry
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Constellation Brands Stock Falls Amid Declining Modelo and Beer Sales
Modelo's sales have declined among Hispanic consumers in the US, impacting its overall performance in the beer market.
Constellation Brands Faces $20 Million Loss and Declining Sales Amid Tariff and Consumer Demand Challenges
Constellation Brands anticipates a $20 million cost impact due to a 50% aluminum tariff imposed by the US, affecting margins and primarily impacting their beer packaging costs, with the company unable to fully offset these additional expenses amid softer demand and changing consumer habits.
Constellation Brands' Shares Drop Amid Tariff Concerns on Beer Prices
Shares of Constellation Brands fell 4% after Donald Trump announced plans for a 25% tariff on Mexican imports, which could increase the cost of Modelo and Corona beers. Constellation, which imports all its beer from Mexico, may raise prices to offset the tariff's impact on its costs. The company is unlikely to move production out of Mexico due to an antitrust agreement. Trump's tariff plans also affected automaker stocks, though it's uncertain if these tariffs will be enacted.
AB InBev's US Sales Plummet Over 13% Due to Bud Light Fiasco
Anheuser-Busch InBev, the world's largest brewer, reported a 13.5% decline in US sales in the latest quarter, largely attributed to a boycott of Bud Light following a controversial marketing campaign with transgender influencer Dylan Mulvaney. Bud Light was also dethroned as the top-selling beer in the US by Modelo. While other global regions saw growth, AB InBev's US revenues fell nearly 14%. The company plans to focus on uncontroversial marketing campaigns and has announced a multiyear sponsorship deal with the Ultimate Fighting Championship to win back customers.
Anheuser-Busch InBev Stock Shows Promising Signs of Recovery
Bank of America has upgraded AB InBev stock from Neutral to Buy, signaling a potential turning point for the company after the Bud Light fallout. Analysts believe that the impact of the boycott, input cost pressures, and investments in Latin America are already factored into the stock price. Margins have been declining since 2018, but BofA expects a 300-basis-point increase in the next three years. While Bud Light sales are still down 28.1% compared to last year, the company's competitors, such as Molson Coors and Constellation Brands, have seen their stocks rise. AB InBev will report earnings on October 31.
"Bud Light's Market Share Collapse Inspires College Course on Brand Strategy"
Kevin O'Leary, CEO of Anheuser-Busch InBev, plans to teach college students about Bud Light's unprecedented 25% market share collapse. O'Leary believes that the company's recent partnership with a transgender influencer triggered a backlash and led to a boycott by some beer drinkers. He emphasizes the importance of understanding and protecting a brand, stating that Bud Light's situation is unique and there is no playbook for this level of market share loss. O'Leary also mentions that he will incorporate this case into his teaching curriculum and views Bud Light's situation as a valuable learning opportunity.
Beer Battle: Coors and Miller Lite Outshine Anheuser-Busch InBev's Bud Light.
Financial analysts recommend buying shares of Anheuser-Busch InBev due to its strong position in the beer industry and potential for growth. The company's recent cost-cutting measures and focus on premium brands have improved its financial performance, making it an attractive investment opportunity in the stock market.
Bud Light Controversy Causes Sales Plummet and Industry Shortages.
The backlash against Bud Light's promo with transgender influencer Dylan Mulvaney has put rival beers in high demand, leading to potential supply shortages for Coors Light and Miller Lite during the Memorial Day weekend. Beer Business Daily editor Harry Schuhmacher believes that the newfound demand for light lagers not owned by Anheuser-Busch could result in a trickle-down effect on the industry. While Anheuser-Busch has begun buying back unsold, expired beer from distributors, distributors who rely on Americans purchasing Bud Light will continue to suffer. However, Schuhmacher expects the backlash will eventually die down, and Bud Light will stay on top despite long-lasting scars.
Beer industry in turmoil as Miller Lite's 'woke' ads face backlash and boycotts.
Miller Lite's "woke" advertisement, released in March to celebrate Women's History Month, has faced fresh criticism after resurfacing in the wake of the Bud Light controversy. The ad, which condemned old beer advertisements that leaned on bikini-clad women as a selling point, included a litany of bleeped-out curse words. Critics have questioned the beer industry's motive for pushing progressive ads, which have not yet proved to be profitable, and have called for a return to advertisements that show athletes "having fun" instead of progressive ideals.
Bud Light Sales Plummet Amid Controversy, Stocks Shift Focus.
Bud Light sales fell by over 12% in April following a backlash against the beer's promotional push featuring transgender influencer Dylan Mulvaney. Rivals Molson Coors and Constellation Brands saw respective growth of 7.6% and 3.8% during the same period. Constellation Brands, which owns a diverse portfolio of well-known alcohol brands, including Modelo and Corona, and has investments in cannabis and healthcare, is poised to benefit from the situation. Molson Coors, the maker of Coors Light and Miller Lite, also saw a boost in sales and is expected to perform well in the coming year.
AB InBev sees profit surge on higher beer prices and strong revenue.
AB InBev, the world's largest brewer, reported a 13.6% increase in core profit for Q1 2023, with revenues rising 13.2% YoY to $14.2bn. The company attributed the growth to "pricing actions" and promoting premium products, as sales volumes rose by just 0.9%. AB InBev also reported strong sales growth outside of the US, particularly in China and India. The beer industry has remained resilient despite inflationary pressures, with AB InBev's rival Molson Coors also reporting higher profits despite higher prices.