This isn’t a turnaround for Anheuser-Busch InBev in the U.S. Higher revenue on lower sales means simply that prices were jacked up to reach revenue targets. But the fact that volume fell only one-half of one percent might mean the situation is starting to stabilize after nearly a decade of decline. Still, the fact ABI’s U.S. sales to retailers fell 1.5% while industry sales to retailers overall declined just 0.5% is a bit worrisome.
The company said it surrendered another 0.5% market share to rivals in the quarter, but it said that was better than last year.
ABI said its Above Premium portfolio gained 90 basis points of share, thanks to the continued growth of Michelob Ultra and the launch of Michelob Gold, “which kept the brand family as the top share gainer in the U.S. for the 14th consecutive quarter. Our other Above Premium innovations are also outperforming the market, with Budweiser Reserve Series and Bud Light Orange among the top 15 share gainers in the U.S. this quarter, according to IRI.”
Budweiser and Bud Light are also performing better in their segments than in the recent past, ABI reports. Still, ABI said, “the Premium and Premium Light categories remain under pressure as customers trade up to higher price points, contributing to Budweiser and Bud Light losing 35 and 90 basis points of estimated total market share.”