STZ - The Sam Adams Brand Is Shrinking but These 2 Drinks Are Saving Boston Beer's 2020
Boston Beer (NYSE: SAM) might consider changing its name if sales trends stay this way for much longer. On Thursday, the alcoholic beverage giant announced that its flagship Samuel Adams franchise shrank in the fiscal second quarter. Its Angry Orchard cider brands declined, too, as restaurants and bars closed their doors or scaled back services in recent months.
But while management sees these declines lasting through the rest of 2020, Boston Beer raised its overall growth outlook to over 30%, even as rivals from Molson Coors (NYSE: TAP) to Constellation Brands (NYSE: STZ) are seeing flat or declining results.
Investors can thank the Truly hard seltzer brand and the Twisted Tea collection for powering head-turning growth for Boston Beer this year.