AB InBev Initiates $1bn Share Buyback Amid 13.5% Decline in US Bud Light Sales Following Transgender Influencer Backlash

Bud Light's slump in sales, ignited by a promotional campaign with transgender influencer Dylan Mulvaney, prompts Anheuser-Busch InBev's first ever share buyback. Despite challenges, global sales grew by 5% thanks to higher prices and premium beer options.

AB InBev, owner of Budweiser and Corona, announced a $1bn share buyback scheme to restore investor confidence following a 13.5% slump in US Bud Light sales, due to a controversial promotional campaign with transgender influencer Dylan Mulvaney.
The Bud Light boycott has led to Mexican beer Modelo Especial taking the title as the best-selling beer in the US over the summer.
Despite Bud Light's significant decline in US sales, AB InBev's global sales rose 5% due to higher prices and increasing preference for premium beer options.
The company has been seeking to repair the Bud Light brand with new advertisement campaigns and marketing strategies, including a recent multiyear sponsorship deal with the Ultimate Fighting Championship.
AB InBev faced criticism from both conservative groups for the promotion with Mulvaney and human rights groups for not publicly supporting Mulvaney in the face of backlash.