ABInBev announces big profit increase but sales are sluggish
Anheuser-Busch InBev doubled its profit to $964 million from $475 million and first-quarter sales increased 6 percent to $9 billion, but volume fell 0.4 percent. Beer volumes grew in all zones except North America, where volumes fell 3 percent.
“In the United States, high levels of unemployment among our core consumer group continued to affect the beer industry,” A-B InBev said in the earnings release. “Shipment volumes fell 3.3 percent, with domestic US beer selling-day adjusted sales-to-retailers (STRs) decreasing 2.2 percent.”
US, shipments were down 3.3%. Top performing brands were at the top end where Stella Artois shipments grew by 22% and Shock Top shipments were up 13%.