Craft Brewing and Distilling News for October 22, 2021October 22, 2021
•Boston Beer Company has reported sales up 34% to $1.7 billion for its fiscal year-to-date through August, with net income down substantially to $66.3 million, owing to the deceleration in the hard seltzer category. “Despite the slowdown in category growth, we expect hard seltzers, which represent 11% of total beer dollars year to date, up from 9% during the same period in 2020, will remain a very important segment of the beer market in the future,” said president and CEO Dave Burwick, adding that Boston Beer’s Truly brand has accounted for 54% of all hard seltzer category growth so far this year. In addition to Truly, the Twisted Tea, Samuel Adams, and Dogfish Head brands all posted depletion growth in the most recent quarter.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Boston Beer Company