USA: Beer sales rise in May for Anheuser-Busch
The largest U.S. brewer, Anheuser-Busch Cos. Inc., said that beer sales to retailers have rebounded in May after a disappointing April, Reuters reported May 22.
The brewer said sales from wholesalers to retailers for the whole company, as well as just for its core beer brands including Budweiser and Bud Light, rose at a mid-single digit percentage rate.
So far, sales to retailers are up 1 percent quarter to date, said the St. Louis-based company, which also owns Rolling Rock, Bacardi Silver malt beverages and seasonal brews like Jack's Pumpkin Ale.
Anheuser (up $0.77 to $50.42, Charts, Fortune 500), which competes with Molson Coors Brewing (down $0.15 to $91.13, Charts, Fortune 500), also said it is still targeting long-term earnings per share growth in the 7 percent to 10 percent range, but said 2007 earnings should exceed that.
However earnings for the second quarter should grow at a lower range, the company said, adding that earnings growth should accelerate in the second half of the year.
Anheuser shares were up 46 cents, or about 1 percent, at $50.11 in late morning trading on the New York Stock Exchange.
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