Locked-Down Drinkers Lose Their Thirst for Budweiser, Stella
- AB InBev warns of worse to come as April shipments plunge 32%
- Popular brands are getting hit harder than niche ones
This article is for subscribers only.
Anheuser-Busch InBev NV warned that its biggest three beer brands -- Budweiser, Stella Artois and Corona -- are bearing the brunt of a collapse in sales caused by Covid-19.
Revenue from those brands dropped 11% in the first quarter, about twice the rate of decline for the company’s overall portfolio of more than 500 labels. Shipments plunged the most in China, where the effect of Covid-19 lockdowns hit hardest because they started earlier than in the U.S. and Europe.