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Boston Beer shares fall nearly 10% as weak hard seltzer demand forces it to pull earnings guidance

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Health conscious American millennials have found their drink of choice: alcoholic carbonated water that is lower in calories and carbs than beer and wine. A hard seltzer craze is sweeping the United States as Generation Y and Generation Z pursue healthier lifestyles, influenced by viral trends on Instagram and YouTube.

TIMOTHY A. CLARY | AFP | Getty Images

Boston Beer, the parent of alcoholic beverage brands like Samuel Adams and Angry Orchard, pulled its earnings guidance Wednesday amid a big slowdown in sales of Truly, its hard seltzer brand.

At the end of July the company pointed to “decelerating growth trends” in hard seltzer sales to justify its weaker-than-expected quarterly earnings



Source cnbc.com

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