CBA Q2 Depletions Flat Due to Redhook Softness

Dear Client: CBA has just reported its Q2 results the three months to June 30. Depletions for the quarter were flat, and up 1% for the first half. That "primarily reflects weak performance in our Redhook brand family outside of its home market of Washington state ," and California softness, per company release. Net sales (of almost $59 million) and total beer shipments were up 3% and 2%, respectively, for the quarter, "reflecting continued progress to align shipments and depletions,