SAM - Boston Beer on Hard Seltzer Innovation: The Luster Has Been Lost
Investors sold off Boston Beer 's (NYSE: SAM) stock last week after the company dramatically lowered its outlook for the fiscal year. Rather than boom over the early summer months, the hard seltzer beverage niche slowed. The Truly brand faced new competition, too, slowing its momentum as the second-best-selling franchise in the industry behind White Claw.
In a conference call with Wall Street analysts, Boston Beer's management team sounded confident about the business despite the disappointing Q2 results. But it warned that the short-term growth picture is unusually cloudy right now.
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Boston Beer on Hard Seltzer Innovation: The Luster Has Been Lost