Boston Beer Being Chased

Dear Client:Yeah, chased by a thousand little scrappers. But scale matters, and let's see who wins in the long term.In the short term, it was a tough fourth quarter for Boston Beer as they cycle tough Rebel, Angry Orchard, and Twisted Tea comps. Boston Beer's fourth quarter saw a decline in core shipments of 3%, partially offset by price increases. For the year, net revenue was up 6%. Depletions for the year increased 4%, and gross margin for the fourth