Bud Light's parent company's stock is down more than 17 percent in the past month, as the Dylan Mulvaney controversy continues to weigh on the beer giant's sales.
, which apparently prompted a wider-spread boycott among certain US consumers.
Sales of Budweiser were down 8.5% year-over-year the week of May 27, but better than the previous week of May 20, which saw the biggest drop, down 11.2%. Michelob Ultra sales dropped 0.1% in the last week of May compared to a decline of 3.8% the week before. Busch Light sales declined 3.0% in the last week of May versus a 5.2% drop the week prior. Natural Light also saw improvement: Sales dropped 1.5% the week of May 27, compared to a 4.9% decline the week of May 20.
Following the earnings call with investors, where Anheuser-Busch InBev CEO Michel Dimitrios Doukeris downplayed the controversy, the company was met with boycotts from others, including from the LGBTQ community like 2Bears Tavern Uptown in Chicago.the bar venue said "Anheuser-Busch's decision to drop its support of Mulvaney in response to ignorant and hateful objections by some of its customers shows how little Anheuser-Busch cares about the LGBTQIA+ community...
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