Business Services Industry
Weak sales force Anheuser-Busch to lower earnings forecast.
Knight Ridder/Tribune Business News, September, 2004
By Gregory Cancelada, St. Louis Post-Dispatch Knight Ridder/Tribune Business News
Sep. 9--Anheuser-Busch Cos. on Wednesday shaved slightly its 2004 earnings estimate due to weak beer retail sales in recent months. But the brewer still expects earnings to grow at a double-digit rate this year as it continues to increase its share of the U.S. beer market.
To boost sales this fall, Anheuser-Busch will launch marketing initiatives that highlight its eight-year-old "freshness" message, offer new products and packaging, and leverage its sponsorship of 27 National Football League teams.
The St. Louis-based brewer said it expects 2004 per-share earnings of $2.75 to $2.76, excluding a second-quarter commodity-hedge gain, a slight dip from its...
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