Hot Seltzer Summer is Truly Over; Can’t Claw Back; Fizzled Out; Lost its Head; Etc.

Dear Client: Release the puns. It's been a fun ride, but the three-year-running Hot Seltzer Summer is drawing nigh. Nothing drove that home more than when Boston Beer Co. announced they would be withdrawing their 2021 guidance of shipments/depletions of up 25% to +40% and earnings per share of $18 to $22 due to the drastic and surprising slowdown of the hard seltzer category in the U.S. [see BBD 09-09-2021]. And like Constellation, they will incur inventory write offs, plus