CBA Depletions Only Down 2% in Q2

Dear Client:'Member CBA Q1 results? Overall depletions were down 4% in Q1 (Kona's were up 3%, a slowed trend) but shipments were up 9% (because CBA had been reducing wholesaler inventory at the comparable period). Net sales were up 7%. Chief Andy Thomas promised a "normalization" in their domestic shipments and domestic STRs going forward.Last quarter, brass shrugged off Kona's slowing as not a consumer problem, but rather, an issue in certain channels, though brands like Big Wave were up