It seems like Corona sales haven’t been hurt by its name

(FILES) This file photo taken on June 04, 2019 shows bottles of Mexican beer Corona at a market, in Mexico City.


rodrigo arangua/Agence France-Presse/Getty Images

As soon as a certain virus began to circulate across the globe, the jokes flew fast and furious — who would buy Corona beer during the coronavirus pandemic?

The latest results from Anheuser-Busch InBev
BUD,
-0.88%

ABI,
-0.08%
don’t make it 100% clear. But it seems like, at the very least, Corona beer sales weren’t noticeably worse than any of its other brands.

Anheuser-Busch InBev shares rallied Thursday, on signs of improving volumes in June. The company’s press release lumped Corona with Budweiser and Stella Artois in noting that, in the first half of the year, sales of those brands fell 14% in their home markets and 15% outside their home markets. Beer sales obviously struggled as drinkers either couldn’t, or didn’t want to, go to bars.

Corona in fact scarcely got a mention during the conference call, and no analysts asked about it on a company conference call. In the U.S., the company trumpeted the launch of Bud Light Seltzer as it said brand share was stable during the second quarter.

A company spokesman also declined to break down the Corona sales in particular.

View more information: https://www.marketwatch.com/story/it-seems-like-corona-sales-havent-been-hurt-by-its-name-11596127100

Articles in category: moneyist
See also  https://www.marketwatch.com/story/global-sulphur-bentonite-market-outlook-industry-analysis-and-prospect-2021-2026-2021-05-03

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