Signs of a Truly Turnaround Taking Shape?

Dear Client: There are signs that Boston Beer could be “in the early innings of turning around Truly,” RBC analyst Nik Modi shared in a note yesterday morning. Nik and co. acknowledged in the note that, yes, overall Truly trends continue to be challenged in IRI scans, as “Truly volumes remain down 25-35% on a weekly basis” and the brand’s share of hard seltzer is still shrinking, “down ~300 bps Y/Y in the last 12 weeks.” But they submit that