A-B Distributors Bursting at Seams

Looks like many A-B distributors might be secretly (gasp) triple-stacking pallets of beer and, can I say it?, stuffing beer in non-climate controlled POS space. Maybe it's not that bad, but distributors seem to be a tad heavy on inventory as A-B's sales-to-retailers (STRs) continue to trail brewery sales-to-wholesalers (STWs) for two quarters going (see chart below).A-B distribs are about a day heavier on product than last year, which is fairly significant when you consider a day for a five