USA: Households demand for beer still quite resilient despite inflation – AB InBev
Inflation-ravaged households appear to still have a few bucks left over each week to reach for a 12-pack of Budweiser, Yahoo Money reported on June 9.
"Consumer demand in the U.S. has proven to be quite resilient," Anheuser-Busch InBev (AB InBev) CEO Michel Doukeris said at a fireside chat with Evercore ISI analysts on June 8. Doukeris's comments were shared by Evercore ISI in a new note to clients on June 9.
The note detailed how Doukeris citied a strong Memorial Day weekend of sales, with lagers such as Busch, Busch Light, and Michelob Ultra performing notably well in addition to explaining that the company is seeing a normalization of demand trends as consumers return to work and on-premise channels such as bars and restaurants.
Inflation is “higher everywhere,” Doukeris acknowledged, but went onto say that consumer purchasing power remains robust.
AB InBev stock fell 1% in the June 9th session and the shares are down 10.7% so far this year compared to a 14% drop for the S&P 500.
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