LaCroix's owner lost $500 million in hours, and blames 'injustice' for fizzling sales by Noah_Kirsch
, in which revenue fell 2.9% versus the same period last year, while earnings per share slumped 40%.
In a research note published Friday morning, Guggenheim Securities downgraded National Beverage to a sell, writing that"increasing competitiveness of the category gives us increased conviction that a rebound is unlikely." According to Guggenheim, sales began declining last October, amid controversy on social media about whether LaCroix is actually"all natural," as advertised.
More optimistically, Caporella used the report to trumpet his love of the United States. The heading was written in American flag typeface, and the announcement included a spirited declaration: “Patriotism—if only we could bottle it!”
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LaCroix maker’s CEO blames ‘injustice’ for poor sales, compares job to caring for a handicapped personNational Beverage Corp. Chief Executive Nick Caporella, who has never quite stuck to the earnings-report script, deviated from the path in a much more extreme way Thursday.
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LaCroix maker’s CEO compares job to caring for a handicapped person, blames ‘injustice’ for poor salesWhen the CEO of LaCroix's parent company said that his job was like 'caring for someone who becomes handicapped,' he meant that “it just requires a lot of tender, loving care,” a spokesman told MarketWatch.
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