US: A-B to up marketing spend 6-7%
Anheuser-Busch Cos is planning to significantly increase its marketing spend, its CFO said yesterday.
Randy Baker, chief financial officer, said: "We expect consolidated marketing, distribution and administrative expenses to be up 6% to 7%. This increased guidance reflects incremental marketing and support of our domestic beer initiatives."
Baker said the increased spending is "critical to the future of the company."
His comments come after the US brewer reported it had seen its earnings per share fall 3% in the first quarter of the year, compared to the same period last year as it was hit by difficult trading conditions.
Domestic beer sales-to-wholesalers decreased 2.7%.
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The US brewer Anheuser-Busch said today that it had seen its earnings per share fall 3% in the first quarter of the year, compared to the same period last year as it was hit by difficult trading condi...
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Anheuser-Busch has increased its economic interest in China's Tsingtao to 27% upon its conversion of all the remaining convertible bonds in Tsingtao....
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