Hard Seltzer Demand Helps Boston Beer’s Sales Spike 34%
Boston Beer (NYSE: SAM) on Wednesday announced robust sales growth for the fiscal fourth quarter. The owner of beer franchises like Samuel Adams and Dogfish Head also predicted more growth ahead in 2020 even as competition is ramping up against its most popular brands.
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Depletions, a measure of consumption, rose 25% in the fourth quarter, which pushed sales up 34% to over $300 million. Most investors were expecting more modest growth of around 24%. The company credited soaring demand for its Truly hard seltzer and Twisted Tea brands, which helped offset declines in the core Samuel Adams and Angry Orchard products.
Source Fool.com
