Beverage companies are off to a rocky start in 2023, as Wall Street turns weary of falling hard seltzer sales. In a note to clients, analysts at Evercore ISI found traditional hard seltzer sales dropped 10.4% over the last four weeks, with sales of Boston Beer Company’s (SAM) Truly down 19.5% alone. On Wednesday, Jefferies analyst Kevin Grundy downgraded shares
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The latest offering from Coca-Cola’s partnership with Molson Coors sees the release of a range of Topo Chico canned cocktails, hot on the heels of the brand’s line of hard seltzers, launched last year. Coca-Cola is continuing its cautious-yet-burgeoning foray into the alcoholic beverage sector through its partnership with brewing giant Molson Coors. The two companies have already collaborated on the recent
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Heineken launched hard seltzer Pure Piraña in Europe last year. However, a lack of familiarity among UK consumers is holding the category back, the firm’s UK marketing director says. Despite big expectations for the category, hard seltzers in the UK are “not yet moving the dial from a scale point of view”, according to Heineken’s UK marketing director Michael Gillane.
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