Boston Beer's Hard Seltzer Is Experiencing Potent Sales Growth
When Boston Beer (NYSE: SAM) CMO Lesya Lysyj describes the growth of her company's hard seltzer brand as being "like a runaway train," it's not just marketing hyperbole: During each week of this past summer, the brewer sold more of its Truly brand than it did during the entirety of summer 2017, Lysyj told financial news site Cheddar. Sales in the category as a whole, she says, have tripled.
Moreover, the alcoholic beverage has become more than just a light summer drink. While Boston Beer anticipated it would just be a seasonal niche beverage, it instead found sales remained elevated all through last winter. And the brewer recently reported its sixth consecutive quarter of rising depletions (sales to distributors and retailers) because of hard seltzer's strength.
Image source: Boston Beer.
Source Fool.com