Craft Brewer Still Seeing Red
The third quarter 2002 was a mix of good news and bad news for Redhook Ale Brewery. On one hand, the craft brewer saw an increase in barrels and dollar sales. That, however, still wasn’t enough to keep Redhook from announcing a third quarter loss of $355,000 or five cents a share.
Moderator’s Comment: What is your take on the craft
brewing business in the US?
It seems like yesterday that craft brews were all the
rage. Even the big guys were setting up units to appear as though they were
craft brewers. Redhook and others brew great product (we especially like the
Nut Brown Ale and Hefe-Weizen). They don’t, however, have the dollars to buy
the shelf/cooler space or make the marketing investment necessary to effectively
compete in the broader consumer marketplace. [George
Anderson – Moderator]