Deals
Slumping Budweiser Sales Are a Big Problem for AB InBev
- Volume unexpectedly falls in third quarter on U.S. weakness
- Brewer raises goal for cost savings 14 percent to $3.2 billion
Bottles of Budweiser beer sit on ice.
Photographer: Alexander Zemlianichenko JR/BloombergThis article is for subscribers only.
As Americans lose their taste for Anheuser-Busch InBev NV’s Budweiser beer, the world’s largest brewer can’t wring out costs fast enough to meet profit expectations.
The Leuven, Belgium-based company’s U.S. sales fell 5.6 percent in the third quarter and market share slipped as drinkers turn to locally brewed beers instead of its pale lagers. The stock fell as much as 3.2 percent, even as AB InBev pledged to increase savings from its $104 billion takeover of SABMiller Plc.