AB InBev sees 'materially worse' second quarter after first-quarter profit drop
), the world’s largest beer maker, forecast a “materially worse” second quarter as coronavirus restrictions curb drinking across the globe, while noting some improvement in China.
At one extreme, South Africa banned sales of alcohol at the end of March, Peru closed down beer production and sale until the end of April, while many stores in Mexico were out of stock after breweries were shut. In the United States, AB InBev’s largest market, the company lost market share as the craze for hard seltzer - sparkling, often fruit-flavoured alcoholic beverages - accelerated, although the company is pushing more into this category.
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