Boston Q4 Depletions Up 25%, But Seltzer is Expensive to Produce

Dear Client: For the seventh straight quarter now, Boston Beer is posting double-digit growth. For Q4, the company reported depletions up 25%, and 22% for the year. (Recall, Boston Q3 depletions had been up 30% for the quarter.)  Excluding Dogfish Head, they're a touch lower, but still stellar: Up 19% for both time periods.  Shipments were up 31.7% for Q4, and almost 24% for the year.  Chief Dave Burwick attributed the quarterly gains to "increases in our Truly Hard Seltzer