REED - Reed slumps 14.1% AH provides 2021 guidance

Reed ([[REED]] +4.6%) provides guidance for 2021:Net sales of $45.8M-46.6M, up from previously given figures $40.1M-40.3MGross margin of 32-33% vs. previously given ~30%.According to data from IRI, sales at retail for the four weeks ended October 4, 2020 increased 49.4% for the Reed’s brand and 27.5% for the Virgil’s brand.YTD IRI data indicates 33.2% growth of the Reed’s brand and 23.0% for the Virgil’s brand. Additionally, ACV, a measure of distribution, has increased 7.4% to 39.1 points and velocity is up 8 units, or 34.7%, while pricing remains strong increasing 9.1% Y/Y.Shares -14.1% AHPress Release

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Reed slumps 14.1% AH, provides 2021 guidance