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🪴 Is Massachusetts’ Hemp Retreat a Harbinger?

Daily Briefing
Plus, tracking the challenges in slumping spirits sales͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
 
 
BevnetJune 6, 2024
DAILY BRIEFING: LITE EDITION
A preview of today's news & insights for the beverage industry.

📰 Today's Top Story

🪴 Is Massachusetts’ Hemp Retreat a Harbinger?

🪴 Is Massachusetts’ Hemp Retreat a Harbinger?

Hemp beverages took another hit last Thursday, losing access to most mainstream retail outlets through a decision by state regulators.

The Massachusetts Department of Public Health (DPH) and Department of Agricultural Resources (MDAR) issued a joint statement through the state’s Alcoholic Beverages Control Commission (ABCC) declaring it “unlawful to manufacture and/or sell food or beverages” containing hemp-derived cannabinoids outside of the dispensary channel, applying to both alcoholic and non-alcoholic beverages.

What does this mean for the hemp industry, both in the Bay State and in the rest of the country? BevNET Insiders can access the full story to find out.

👉🏼 What You Need to Know 👈🏼

💰 Earnings Rundown: Brown-Forman Reports Sales Slump

Brown-Forman announced a sales slump yesterday in its earnings report, driven by lower volumes of tequila and whiskey, and the broader slowdown in the spirits industry. 

  • The maker of Jack Daniel’s reported an 8% decline in reported net sales to $1.0 billion in Q4 FY 2024.
  • Overall, reported net sales in the U.S. decreased 4%, with the decline partially offset by price increases.
  • Bright spots include  recent acquisitions Diplomático Rum and Gin Mare (+61%), as well as RTD New Mix (+32%).

CEO Lawson Whiting was optimistic that trends would improve towards the end of the year, and said that the downward trajectory was primarily an “inventory correction” issue at the consumer level.

Check out the full rundown on BevNET.

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🎙️ Now Streaming: CPG Week

🏛️ Kefir Feuds And Soda ‘Suits

🏛️ Kefir Feuds And Soda ‘Suits

The CPG Week team pulled out their legal pads and took seats in the gallery this week to discuss some of the courtroom drama brewing in the industry recently. 

⚔️ Senior reporter Brad Avery kicks off the case docket discussing developments in the long-fermenting family power struggle at Lifeway Foods.

🥤 Nosh managing editor Monica Watrous cracks open the can on Poppi’s class-action suit claiming its gut-friendly claims are unfounded.

❌ Finally, the team wade into a case out of the U.S. District Court of Northern Georgia claiming that General Mills allowed a racist and discriminatory workplace in one of its manufacturing facilities for over two decades.

Listen now on Nosh and subscribe to get a fresh episode every week.

Like what you are listening to? Please don’t hesitate to rate our show and leave a review on your podcast platform of choice.

🚨 What You're Missing 🚨

  • Details from a recent IWSR report on the challenges ahead for the spirits segment
  • News that a global coffee shop is now selling via another delivery service

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    June 6, 2024 6:14pm

  • Country:

    United States

  • Tags
    Publishing Food B2C