Boston STRs up 12% in Q2; Depletion Guidance Up, Gross Margin Guidance Down

Dear Client: Remember Boston Q1 results? They were pretty impressive: After several quarters of disappointments, Q1 depletions were up 8% in the first quarter of 2018, while shipments were up 15%. Well, they blew that away in Q2. Depletions were up 12% for the quarter, (11% for the 26 week period comp). Shipments were up 9%.AND THEY RAISED DEPLETIONS GUIDANCE. Whereas full year depletions growth guidance had previously been estimated between flat and up 6% previously, they're now feeling a