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EAST: Now there are ten! Tax Reform Act kicking in. Dark spirits leading industry growth.

02/13/2018
By Ian Gilson, PhD

NASDAQ:EAST

Eastside Distilling (NASDAQ:EAST) has announced that Redneck Riviera Whiskey (RRW) is now being distributed in South Dakota by RNDC, who has submitted orders to EAST. RRW is now being shipped into 10 states including Oregon. Eastside expects more distributers to feature the brand in the current quarter.
 
We are looking for additional sell-through news as distributors place more orders.
 
Information Resources Inc. (IRI) has released retail sales data for the beverage industry. In the spirits category overall sales for the 52 weeks ended May 14, 2016 volume grew by 5.8% to 54.674 billion cases and revenue increased by 5.1% to $6.93 billion.
 
The Distilled Spirits Council, Washington, D.C. announced that whiskey sales volume was up 6.8% with revenue increasing by 7.7% in 2016. Overall, dark spirits were the leading spirits. Crown Royal Canadian, with a flavour profile similar t0 RRW, increased in volume by 4.5%.
 
The company has announced that the impact of the Tax Reform Act was a reduction of $90,000 in taxes paid in January as compared to a year ago. Excise taxes paid in1Q17 were about $175,000.

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