"Boston Beer founder Jim Koch warned in the company's second-quarter earnings that the "hard seltzer category and overall beer industry were softer than we had anticipated."

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"Boston Beer Chairman Jim Koch said that the hard seltzer market is struggling with fewer new users and a proliferation of new brands, which he said is leading to "consumer confusion."

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"The hard seltzer category and overall beer industry were softer than we had anticipated," Chairman Jim Koch said in the statement. "

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