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Dear Client: Monster Beverage Corp. has been on a tear this year, most recently reporting record quarterly net sales of $2.2 billion in Q3, a 16.8% increase from the $1.88 billion in net sales recorded a year ago. The record earnings were attributed, in large part, to increasing household penetration of the energy category globally, CEO Hilton Schlosberg said on the company’s earnings call yesterday, noting that new consumers are entering the energy category as it continues to tap into
Hemp Comes to a Head in Washington
Dear Client: If the annual Beer Institute meeting last year was laser-focused on the (still) forthcoming Dietary Guidelines update, this year the org’s brass has turned its attention to the intoxicating hemp-derived edibles/drinks market and ensuring a “level playing field” for beer to compete with the nascent category. BI president and CEO Brian Crawford came armed with new consumer data at the org’s meeting and hill climb in D.C. yesterday. The group commissioned Morning Consult to survey over 2,100 LDA
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