Boston Beer Company CEO Dave Burwick will step down and retire from the company’s board of directors, effective April 1. Michael Spillane, a Nike executive and lead director on Boston Beer’s board of directors, will supplant him.
Dogfish Head will be going back to the future in 2024 with a refreshed logo that pays homage to its nearly two-decades old logo, marketing director Jennie Baver shared during Boston Beer’s national sales meeting last week. The company will also roll out 4-packs of 12% ABV rum, tequila and vodka canned cocktails.
Incremental innovation and clear brand identity were running themes throughout Boston Beer’s presentation to wholesalers in Los Angeles last week. Boston Beer shared an edited recording of the meeting with Brewbound this week.
As a response to the instability in segments of the beer industry, Boston Beer Company has adjusted both its financial guidance and its approach to innovation, executives shared yesterday during the company’s third-quarter earnings conference call.
Boston Beer Company has updated its full-year guidance following its Q3 earnings results, with slightly more pessimistic expectations for the year.
Beverage sales in the convenience channel remained “healthy” in Q3 2023, up +4.4%, despite decelerating from stronger +6.6% growth in Q2, according to the latest Beverage Bytes survey of retailers conducted by Goldman Sachs Equity Research.
Boston Beer Company has filed a complaint against Downeast Cider and a former employee who now serves as the Boston-based cider maker’s SVP of marketing.
Monster Energy is “all-in on alcohol” and “thinks it could be big for them by 2025,” according to Goldman Sachs equity analyst Bonnie Herzog’s report from the National Association of Convenience Stores (NACS) trade show. The energy drink maker, which entered beverage-alcohol with the acquisition of CANarchy in January 2022, displayed its forthcoming hard tea, Nasty Beast Hardcore Tea during the show, Herzog wrote.
Craft continues to battle declines, with dollar sales for the segment down -1% in the last 52 weeks (ending September 19) and volume down -5.3% in Circana-tracked channels. But the ebbs and flows of craft are what make it a “success,” Samuel Adams founder Jim Koch said last week during the company’s annual media brunch at the Great American Beer Festival (GABF).
Distributors noticed stronger beer trends this summer versus last summer, “despite headline concerns over the slowing category and ongoing Bud Light pressures,” Goldman Sachs analysts reported in the company’s latest Bev Bytes Beer Distributor Survey.
Beyond beer has been a key growth driver for bev-alc companies, and it’s the beer category’s battle to win, according to Boston Beer Company founder Jim Koch.
Brewbound recently caught up with Dogfish Head co-founder Sam Calagione on the brewery’s 2023 performance and fall beer programming.
Boston Beer Company chief sales officer John Geist will retire at the end of the year after 26 years with the company and seven years leading sales.
Boston Beer’s shipments declined again in Q2 – down -4.5%, to 2.3 million barrels. However, the company is still confident in its projections and its “strategic priorities remained unchanged,” founder Jim Koch said Thursday during the company’s call with investors.
Boston Beer Company reported its second quarter earnings today, with net revenue declining -2.1%, to $603.3 million, compared to the same period in 2022.
