CBA Q3 Depletions Down 2% Again, Kona up 9% (Again)

Dear Client:CBA Q3 depletions were exactly in line with Q2 trends: Overall depletions were down 2%, while Kona's depletion trends were just shy of double-digit growth, up 9%. YTD overall depletion trends are down 1%. Shipments were "relatively flat" in the quarter, but down 3% YTD.As we saw with Boston a few weeks ago, these results caused CBA to adjust their full year depletions guidance downward, from between flat to up 6%, to a new prediction of between flat to