Boston Q1 Shipments and Depletions Both Down Double-Digits

Dear Client:The declines continue for Jim Koch and company. Boston Beer just reported their Q1 2017 earnings, which saw shipments and depletions down 15% and 14%, respectively.YTD depletions through the 15 weeks ended April 15 are a skosh better, down 13%, the company estimates.Despite the poor numbers to kick off the year, Boston Beer maintains its guidance on full-year depletion and shipment change at between minus 7% and plus 1%.SEASONALS WOES CONTINUE. Jim said the declines in Q1 depletions "were