The world’s biggest brewer is to return $1 billion to investors via its first-ever share buyback as it battles to restore its fortunes in the wake of the Bud Light furore.
Anheuser-Busch InBev’s revenues in the US slumped by 13.5 per cent in the third quarter after a conservative backlash over a social media promotional campaign with Dylan Mulvaney, a transgender influencer.
Bud Light was toppled from its No 1 spot in the US after the beer brand sent a personalised can to Mulvaney in April. The social media star made a post about the can, sparking a boycott that sent sales plummeting.
