Beer brand takes sales hit after backlash over ad campaign featuring transgender influencer
US sales of Bud Light have fallen and profits have dropped following a boycott of the beer brand after it made a promotional deal with a transgender influencer.
Sales in the country to wholesalers and retailers were down 15% and 14% respectively while pre-tax profit dropped 28%, second quarter 2023 results showed.Roughly two thirds of the decrease was attributed to declining market share performance. The rest was due to increased investment and support measures for wholesalers.
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