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Samuel Adams maker Boston Beer Co. -- once a scrappy upstart that grew by luring drinkers away from macrobrewers -- is now losing out to smaller rivals.
Boston Beer’s shares fell the most in more than two years Friday after the company cut its forecast for profit this year, hurt by increased competition from smaller craft-beer competitors. Earnings this year will be $7 to $7.40 a share, the Boston-based brewer said Thursday in a statement. That’s down from a previous projection of $7.10 to $7.50.