Bud Light parent says US market share stabilizing after transgender promotion cost sales

abcnews.go.com:

Bud Light’s parent company expressed confidence Thursday that its U.S. market share has stabilized after a promotion with a transgender influencer cost it sales

Bud Light's parent company expressed confidence Thursday that its U.S. market share has stabilized after a promotion with a transgender influencer cost it sales.

Anheuser-Busch Inbev said Thursday that its U.S. revenue fell 10.5% in the second quarter. Bud Light sales plunged amid a conservative backlash after the brand sent a commemorative can to transgender influencer Dylan Mulvaney in early April.

The company said its total U.S. market share for all brands fell more than 5% to 36.9% in April, but then remained stable from the end of April through the end of June. Some of the company's brands, like Busch Lite and Michelob Ultra, have gained U.S. market share.

Still, the Bud Light saga has been a costly one for the brewer. In June, Bud Light lost its place as America’s best-selling beer after more than two decades, slipping into second place behind Mexican lager Modelo Especial. InBev also owns Modelo, but in the U.S. the brand is imported and sold by Constellation Brands.

In the month ending July 22, Bud Light's U.S. retail sales were down 26% compared to the same period a year ago, according to Nielsen data compiled by Bump Williams Consulting. Its year-over-year sales declines have been in the 25% to 30% range every month since the backlash began, the consulting company said.

InBev CEO Michel Doukeris said Thursday during an earnings call that the company plans to provide financial support to U.S. wholesalers through the end of December to make up for lost Bud Light sales. But he also said internal polling shows that 80% of U.S. consumers remain favorable or