Anheuser Busch Inbev SA

Miller, and Coors a products are displayed October 9, 2007 in Chicago, Illinois.Scott Olson | Getty ImagesBrewer Molson Coors said on Tuesday that it expects to maintain its market share gains in the year ahead.The company, which makes Coors Light and Miller Lite, reported strong fourth-quarter earnings on Tuesday as net sales for 2023 grew 9.3%. Those revenue gains were in large part tied to consumers migrating away from AB-InBev's Bud Light products after boycotts began last April."Molson Coors was well positioned to…

Attendees hold large Pride flag at the 2023 LA Pride Parade on June 11, 2023 in Hollywood, California. (Photo by Rodin Eckenroth/Getty Images)Rodin Eckenroth | Getty ImagesIn a year stained by boycotts, protests and heightened consumer choice, hundreds of companies came through for LGBTQ+ equality, according to a leading advocacy group.The Human Rights Campaign Foundation awarded 545 companies with a perfect score on its annual Corporate Equality Index, which evaluates U.S. based companies that opt into the survey on…

An employee adjusts bottles of Bud Light beer at an Anheuser-Busch InBev facility in Virginia, Aug. 8, 2018.Andrew Harrer | Bloomberg | Getty ImagesBeverage giant Anheuser-Busch announced it will lay off hundreds of corporate employees as sales of its flagship lager Bud Light falter.In a statement to CNBC on Thursday, a company spokesperson said the job cuts affect less than 2% of U.S. employees. Anheuser-Busch has about 18,000 employees nationwide. The layoffs will include roughly 350 of those people.The company said it…

Florida Gov. Ron DeSantis has told his government to investigate whether Bud Light's parent company breached its duties to shareholders as a conservative backlash continues to rage over the beer brand's deal with transgender social media influencer Dylan Mulvaney.DeSantis, who is running for the Republican presidential nomination, instructed Lamar Taylor, the interim executive director of the State Board of Administration, to immediately launch a review into "how AB InBev's conduct has impacted and continues to impact the…

Some organized Starbucks stores will strike across the U.S. starting Friday in Seattle after the coffee giant and the union representing baristas publicly clashed over claims that the company was not allowing Pride month decor in cafes.The union, Starbucks Workers United, said more than 150 stores representing nearly 3,500 workers have pledged to join the strikes, which will take place over the next week. More than two dozen additional stores are voting on strike authorizations and the count could rise to nearly 200…

Attacks against businesses for their inclusion of the LGBTQ+ community have forced companies to try to strike a balance between expressing values or risking backlash — and even violence — from a small but vocal part of their customer bases.As boycotts move beyond social media-fueled outrage, companies such as Anheuser-Busch, Target and Disney are facing monthslong public relations fiascos that have resulted in market share losses, C-suite shake-ups, legal battles and even threats to employees. In some cases, corporations…

A bartender creates specialty cocktails made with Casamigos at the opening party for Alo Miami on December 16, 2021 in Miami, Florida.Jason Koerner | Getty ImagesCHICAGO — The spirits industry is overcoming economic headwinds to meet changing consumer preferences as it chips away at the dominance of beer.Spirits revenue market share grew from 28.7% in 2000 to 42.1% in 2022, surpassing beer for the first time ever, according to the Distilled Spirits Council of the United States. Beer holds a 41.9% market share, it said.The…

Modelo Especial beer arranged in the Brooklyn Borough of New York, U.S., on Tuesday, Nov. 23, 2021.Gabby Jones | Bloomberg | Getty ImagesBud Light lost its top spot in the U.S. beer market last month, as the brand's sales sagged following a conservative uproar over its partnership with transgender social media influencer Dylan Mulvaney.Constellation Brands' Modelo led the market as it nabbed 8.4% of beer sales from retail stores in the four weeks that ended June 3, according to NielsenIQ data from consulting firm Bump…

Marchers with Starbucks pass through the landmark intersection of Hollywood and Highland during the annual Pride Parade on June 12, 2022 in the Hollywood section of Los Angeles, California.David Mcnew | Getty ImagesStarbucks Workers United said Tuesday that dozens of the coffee chain's U.S. stores aren't allowing employees to decorate for Pride month.Starbucks said in a statement to CNBC that the company unwaveringly supports the LGBTQ+ community and hasn't changed its policies for store decorations."There has been no…

Beer isn't as much of a bargain as it used to be.Americans are drinking fewer brews, and the sector is steadily losing market share to spirits. Beer companies, faced with rising operating costs in areas like packaging and transportation, have raised prices and seen bigger profits, with consumers footing the bill.The price of beer bought at retail locations such as grocery stores rose 5.9% for the 12 months through April 2023 compared with the prior year, according to data from the Bureau of Labor Statistics. The rate…