Anheuser-Busch InBev reported its first quarter results recently, and guess what? Just like in their third quarter of last year, and likely a bunch of other quarters besides, volume sales are down in North America.
Volumes dropped throughout the Americas, but especially in North America, which is the source of nearly half of ABIB’s profits and where sales volumes dropped 3.4% overall, with the Bud family taking a particularly big hit.
Bad news, right? Wrong!
Because just as in quarters past, ABIB is offsetting plummeting sales with price hikes, thus earning not a loss in North America, but a profit. Globally, sales increased to US$9 billion, up from US$8.33 billion in last year’s first quarter, despite global volumes being down o.4%.
In other words, screw the people still buying your product by making them pay more for it. Nice.Information compiled from reports in the Wall Street Journal and Financial Times.