AB InBev beer sales drop on Brazil rain, U.S. jobs
on 05/05/11 at 8:44 amIndustry
However, the maker of Budweiser, Stella Artois and Beck’s said it expected volumes to improve from the second quarter and forecast continued benefits from price rises carried out in its main U.S. and Brazilian markets at the end of last year.
First-quarter overall group shipments fell 0.4 percent on a like-for-like basis, the first decline for the company since the third quarter of 2009 and against market expectations of a slight increase.
The Belgium-based brewer said on Wednesday a high jobless rate, notably among its core consumer group of young males, reduced volumes in the United States, while heavy rain kept growth to a minimum in Brazil. Beer consumption typically rises in warm and sunny weather.