<SEC-DOCUMENT>0001437749-18-003242.txt : 20180612
<SEC-HEADER>0001437749-18-003242.hdr.sgml : 20180612
<ACCEPTANCE-DATETIME>20180223170019
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001437749-18-003242
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL BEVERAGE CORP
		CENTRAL INDEX KEY:			0000069891
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				592605822
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		8100 SW 10TH STREET
		STREET 2:		SUITE 4000
		CITY:			FT. LAUDERDALE
		STATE:			FL
		ZIP:			33324
		BUSINESS PHONE:		9545810922

	MAIL ADDRESS:	
		STREET 1:		8100 SW 10TH STREET
		STREET 2:		SUITE 4000
		CITY:			FT. LAUDERDALE
		STATE:			FL
		ZIP:			33324
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<html>
<head>
	<title>fizz20180222_corresp.htm</title>

	<!-- Created by RDG HTML Converter v1.1.0.0 2/22/2018 2:56:50 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">February 23<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, 2018</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">U.S. Securities and Exchange Commission</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Division of Corporation Finance</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">100 F Street, N.E.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Washington, D.C. 20549</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 10%;">Attention:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;</font></td>
			<td style="width: 90%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Mr. James Lopez</font></td>
		</tr>
		<tr>
			<td style="width: 10%;">&nbsp;</td>
			<td style="width: 90%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Mr. Ruairi Regan</font></td>
		</tr>
		<tr>
			<td style="width: 10%;">&nbsp;</td>
			<td style="width: 90%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 10%;">Re:</td>
			<td style="width: 90%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">National Beverage Corp.</font></td>
		</tr>
		<tr>
			<td style="width: 10%;">&nbsp;</td>
			<td style="width: 90%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Annual Report on Form 10-K</font></td>
		</tr>
		<tr>
			<td style="width: 10%;">&nbsp;</td>
			<td style="width: 90%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Filed July 13, 2017</font></td>
		</tr>
		<tr>
			<td style="width: 10%;">&nbsp;</td>
			<td style="width: 90%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">File No. 001-14170</font></td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Dear <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Mr. Lopez and Mr. Regan:</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">This letter is being <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">provided on behalf of National Beverage Corp. (the &ldquo;Company&rdquo;) in response to comments received from the staff of the Division of Corporation Finance (the &ldquo;Staff&rdquo;) of the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) by letter dated January 26, 2018, regarding the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended April 29, 2017 that was filed with the Commission on July 13, 2017 (File No. 001-14170).</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">The <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">text of the Staff&rsquo;s comments is included in bold and italics for your convenience. The Company&rsquo;s response is set forth immediately below the comment.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i><b>Management<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s Discussion and Analysis</font></b></i><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><i><b> &hellip;</b></i><i><b> </b></i><i><b>(</b></i><i><b>page 16)</b></i></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i><b>&nbsp;</b></i></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i><b>We note your press release filed with the Form 8-K on May 5, 2017 and the ref</b></i><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><i><b>erences to velocity per outlet VPO and velocity per capita VPC</b></i><i><b>. You state that you &ldquo;magnify these measures and this creates growth never before thought possible.&rdquo; You also state that you are &ldquo;creating velocity per capita through proven velocity predictors.&rdquo; To the extent that VPO and VPC are key performance indicators used in managing your business, please include a discussion of these measures along with comparative period amounts or explain why you do not believe this disclosure is necessary. Refer to Section III.B.1 of SEC Release 33-8350.</b></i></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i><b>&nbsp;</b></i></p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i><b>&nbsp;</b></i></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Response:</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">Our <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Chairman &amp; CEO wrote the following in his press release dated May 4, 2017:</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:12.6pt;margin-top:0pt;text-align:left;"><u><i>&ldquo;VPO <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&ndash; VPC Dynamics</font></i></u></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:12.6pt;margin-top:0pt;text-align:left;"><i>National Beverage employs methods that no other company does in this area <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&ndash; VPO (velocity per outlet) and VPC (velocity per capita). We utilize two proprietary techniques to magnify these measures and this creates growth never before thought possible. Unique to National Beverage is creating velocity per capita through proven velocity predictors. Retailers are amazed by these methods and find before and after changes so dynamic that they demand we afford them the use of these methods as frequently as possible.</font></i><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><i>&rdquo;</i></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:12.6pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:12.6pt;margin-top:0pt;text-align:left;">This statement characterizes the entrepreneurial spirit of National Beverage and its Chairman. The metrics that Mr. Caporella referenced are used to establish goals for certain customers, but are not utilized to manage the overall executional side of our business.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> Furthermore, we do not believe our comments relative to VPO/VPC dynamics require explanation as they are proprietary methods that are part of a consumer engagement program called &ldquo;BrandED&rdquo;. Through this educational program that allows us direct contact with our consumers, we learn about frequency of purchase, consumption, household management and other pertinent facts at various locations and time of purchase. This information is as secretive as the formulas of our beverages and should not be disclosed to our competition.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:12.6pt;margin-top:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">VPO <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">and VPC therefore are not key performance indicators that would give readers a view of the Company through the &ldquo;eyes of management&rdquo; as that term is used in SEC Release No. 33-8350.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">We <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">thank you for your comments. If you have any further questions or need additional information, please feel free to contact the undersigned at (954) 581-0922.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Sincerely,</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">By<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">: /s/ Gregory P. Cook</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Gregory P. Cook</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Vice President <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&ndash; Controller and </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Chief Accounting Officer</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
