LA CROSSE, Wisc. – It hasn’t been a very sweet year for one beverage also known for its lack of sweetness. Investors are continuing to punish LaCroix for falling sales.
The stock of parent company National Beverage fell 10% in May amid sales that collapsed 15%.
It’s a losing streak that’s been happening all year and the stock has followed suit, losing 62% of its value since September.
LaCroix’s flavored seltzer water was once one of the fastest growing products in the beverage market and heavily associated with health-conscious millennials.
Competing products from rivals, including juggernauts Coke and Pepsi, have successfully stolen away much of that customer base.
National Beverage’s CEO issued a rare apology for the dismal results in the company’s latest quarter and compared managing LaCroix to “caring for someone who becomes handicapped.”
Some analysts believe National Beverage lacks the management acumen to regain its lost market share.
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