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Fly News Breaks for April 3, 2019
FIZZ, MNST
Apr 3, 2019 | 08:28 EDT
Guggenheim analyst Laurent Grandet noted that Nielsen reported North American Beverage category sales increased 4.0% in the 12-wk period ending March 23, which is down slightly from 4.2% growth last month. While Energy drinks increased as a category by 9.5%, Monster Beverage (MNST) was "materially weaker," with sales up 3.3% in the 12-wks and down 2.9% in the 4-wk period, said Grandet, who attributed the weakness to Red Bull launching innovation earlier than it typically does, Monster's fewer weeks of promotion in convenience stores this year-to-date and Bang's significantly accelerated distribution gains. Grandet also pointed out in his category overview note that sales of National Beverage's (FIZZ) LaCroix continue to deteriorate, with sales down 4.2% in the 12-wks and down 5.1% in the 4-wk period, according to Nielsen data. The analyst has a Buy rating on Monster shares and a Sell rating on National Beverage.
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