Distilling – The News Desk

Remy Cointreau Posts a Drop in Sales, Earnings Due to US Headwinds

30Nov

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World

Remy Cointreau Posts a Drop in Sales, Earnings Due to US Headwinds

Updated Nov. 30, 2023 2:48 am ETRemy Cointreau posted a decline in sales and earnings for the first half of fiscal 2024 due to high inventories and rising interest rates in the U.S. market.The French distiller booked current operating profit of 169.1 million euros ($185.5 million) in the six months to Sept. 30, which was 43% lower on year organically. This reflected a decrease in sales that was partially offset by a reduction in overhead costs, the company said on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Guinness Maker’s Morning After Offers Little Reassurance

16Nov

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Money

Guinness Maker’s Morning After Offers Little Reassurance

Global liquor giant Diageo is reeling from the sudden death of its longtime chief executive in June followed by a profit warning last week that tanked the stock. But its real problem is more fundamental: the slow pace of sales in North America after an initial, post-Covid surge. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

10Nov

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World

Diageo Shares Tumble After Guidance Cut

Diageo shares had their worst one-day fall in more than three years after the liquor maker cut its guidance for both the short and medium term.Shares at 0822 GMT were down 306 pence, or 9.4%, to 2,940 pence.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Remy Cointreau Slashes Guidance After Sales Slump

27Oct

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World

Remy Cointreau Slashes Guidance After Sales Slump

Remy Cointreau cut its sales forecasts for fiscal 2024 after sales plunged in its second quarter as Americans drink less cognac.The Paris-based owner of Remy Martin cognac posted sales of 379.2 million euros ($400.6 million) for the three months to the end of September, down 17% in reported terms and 11% organically. Cognac sales fell to EUR261 million, down 24.5% on a reported basis and 18% organically.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

China's Moutai Wants to Satisfy All Your Cravings

18Sep

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Money

China's Moutai Wants to Satisfy All Your Cravings

The company is diversifying from liquor into chocolates and other goodies. The new offerings might not stick, but its core brand is so valuable that may not matter.