Anheuser-Busch InBev Reports a 32% Volume Drop, Warns of More Shortfalls Ahead
Anheuser-Busch (NYSE: BUD) gave investors their first detailed glimpse into how the COVID-19 pandemic is impacting its business on Thursday.
The beer giant said sales volumes were trending modestly higher through February but then slumped as social distancing efforts eliminated a key revenue source. Volumes fell 9% for the first quarter, which runs through late March, and then declined 32% in April due to the lack of on-premise drinking occasions at places like bars, clubs, restaurants, sporting events, and concerts.
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Source Fool.com
