On the Coming Summer Price War

Dear Client:[Editor's note: This edition went out this morning without text. We apologize.]First, let's clarify regarding A-B's new distribution program which several sources view as a space grab related to their aggressive price reduction initiative: Space Assortment Price (SAP) Initiative, which seeks to "focus on achieving distribution for core brands via the 15 highest velocity SKUs. SAP will be considered executed when at least 13 of these 15 SKUs are in a store. The goal will be to grow the