Anheuser-Busch InBev SA reported lower quarterly profit that missed analysts’ estimates and sent its shares down sharply, blaming higher costs and lost market share in the U.S. to hard seltzer makers.
AB InBev—the world’s largest brewer, with brands such as Budweiser, Bud Light and Michelob Ultra—said its profit margins were hit by the highest annual increase in commodity and currency transaction costs in the past decade. It said consumers were trading down and spending less.
..."Market" - Google News
February 27, 2020 at 06:34PM
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Budweiser Brewer Takes Profit Hit, Loses More U.S. Market Share - The Wall Street Journal
"Market" - Google News
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