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(Photo by Joe Kovacs)
(FOX BUSINESS) -- Anheuser-Busch InBev's Bud Light brand has still not recovered in the U.S. more than a year since the beverage giant's controversial partnership with transgender influencer Dylan Mulvaney sparked a boycott of the beer.
In its first-quarter earnings released Wednesday, A-B reported a 2.6% increase in revenue globally, but a 9.1% decrease in America. Sales to retailers in the U.S. were down 13.7%, primarily driven by a drop in Bud Light volume, the company said.
Sales to wholesalers in the U.S. market were also down by 10.1%, and the company's earnings before interest, taxes, depreciation and amortization (EBITDA) dropped by 19.7%.
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