Modelo Especial dethroned Anheuser-Busch InBev’s Bud Light as the top selling beer in the US in June after the latter faced backlash over a promotion with Dylan Mulvaney.
Constellation net sales rose more than 6% to $2.52 billion, beating analysts’ average estimate of $2.47 billion, according to Refinitiv IBES data.
The company has banked on its premium-yet-affordable offerings such as Kim Crawford wine and High West whiskey to push sales at a time when inflation-hit consumers have been tightening their purse strings. Constellation’s beer business posted an 11% increase in sales in the quarter ended May 31, mainly on strong growth across Modelo Especial, the Modelo Chelada brands as well as Corona Extra.Anheuser-Busch’s sales have tanked ever since transgender influencer Dylan Mulvaney promoted Bud Light.
Constellation reiterated its annual adjusted profit per share forecast of $11.70 to $12.00 as steeper costs dented its beer segment operating margins by 220 basis points in the reported quarter.The company’s first-quarter profit of $2.91 per share beat analysts’ average estimate of $2.83 as per IBES data from Refinitiv.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Bud Light sagging sales becoming ‘business as usual’ following Dylan Mulvaney fiasco: ExpertBeer Business Daily publisher Harry Schuhmacher said the industry is shocked that Bud Light Sales haven’t bounced back from its disastrous promo celebrating transgender influencer Dylan Mulva…
Leer más »
Bud Light ads are popping up in China after Dylan Mulvaney controversyThe beer brand has endured plummeting sales in the U.S. following its brief partnership with transgender influencer Mulvaney.
Leer más »
Trans Influencer Dylan Mulvaney Breaks Her Silence on Bud Light ControversyTrans influencer Dylan Mulvaney breaks her silence on Bud Light controversy. 'For a company to hire a trans person and then not publicly stand by them is worse, in my opinion, than not hiring a trans person at all.'
Leer más »
Dylan Mulvaney Slams Anheuser-Busch for Turning ‘A Blind Eye’ to Her After Bud Light Backlash“For a company to hire a trans person and then not publicly stand by them is worse than not hiring a trans person at all,” the trans influencer said in her video.
Leer más »
Transgender influencer Dylan Mulvaney says Bud Light never reached out to her after backlash'For months now I’ve been scared to leave my house, I’ve been ridiculed in public, I’ve been followed,' Mulvaney said in a TikTok.
Leer más »
Dylan Mulvaney Criticizes Bud Light for Not Supporting Her Amid 'Bullying and Transphobia'Dylan Mulvaney is speaking out amid the Bud Light controversy. The 26-year-old trans influencer posted an Instagram video on Thursday, in which she shared how she says she's been treated in the months since she posted her sponsored ad, while also claiming that that beer company still hasn't reached out to her.
Leer más »