Despite taking a 23% hit in China, according to Pernod Ricard's year-end financial results, the company is still "extremely optimistic" about the potential of the Chinese market moving forward.
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Tesco's stock tumbled 8.0% in early trading today as the company issued a second profit warning this year and announced it would be cutting its dividend by 75%.
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Brown-Forman's income increased by 7% despite sales not growing at the same rate as last year, said the company as it reported its first financial quarter results for the three months ending July 31 2014.
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Sales for the 2014 financial year declined by 7% to €7,945 million due to a unfavourable foreign exchange rates and the Chinese market taking a -23% hit according to Pernod Ricard's annual financial report.
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Stock Spirits saw revenues fall by 10% to €137.7 million as a 15% hike in Polish excise duty hit consumption levels in the six months to June 30.
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Virgin Wines celebrated its best month in its 14-year history in July, as its web sales grew 22% year on year.
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Treasury Wine Estates posted a net loss of AUD$100.9 million with net profits tanking, down by 33% for the year to June 30, 2014.
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Both Tesco (LSE:TSCO) and Morrisons (LSE: MRW) stocks rate of return have declined by nearly 30% over the past year, further signalling the challenges that middle priced grocery chains are facing in the supermarket price wars.
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Morrison Bowmore Distillers, a subsidiary of Beam Suntory, and Glenmorangie Company, part of LVMH, both saw sales and profits grow last year, only further confirming the "hot" streak that whisky is currently having
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Diageo released is year-end financial results ending on 30 June 2014 and show that net sales declined and operating profits took a big hit for the 2014 fiscal year.
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The crackdown in China on luxury products and gifting continues to hit major drinks players with Diageo expected to announce a further drop in sales in the country in its full year results this week including another hit on its premium baijiu brand, Shui Jing Fang.
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Brown-Forman shareholders celebrated yesterday the success of its 2014 financial results which it said was "one of the company's most successful years in its 144- year history."
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Louis Vutton Moët Hennessy (LVMH) stock price is taking a hit as financial markets react to the conglomerate's half yearly results announced at close of business yesterday. This morning the stock was trading 6.12% lower, down from yesertday's close €141.25 per share to €132.75 (Bloomberg).
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Rémy Cointreau released its Q1 2014/2015 results today, reporting organic sales have slipped another 5.7% during Q1 ending on June 30, 2014 with the decline being driven by Remy Martin Cognac revenue continuing to fall another 15%.
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Naked Wines released it financial performance results today for 2013 which includes a 40% increase in sales reaching £53 million driven by a 50% increase in the number of Angel investors.
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There won't be many corks popping across the drinks industry this week as the summer marks what has been tough fiscal year for the sector dominated by a slowdown in growth in China.
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Treasury Wine Estates says 2015 will be a "reset year" as it writes down AU$260 million for 2014 and prepares to consolidate Penfolds' release dates to October to better manage allocations.
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Rémy Cointreau which has seen profits and sales rapidly decline over the first half of the year, has named Valérie Chapoulaud-Floquet as the new chief executive slated to take contirl of the struggling spirits brands in mid-September.
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Brown-Forman reported that for the fiscal year end on April 30, 2014, net sales increased by 4% and operating income increased by 8%, largely driven by organic growth with the Jack Daniel's brand.
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Treasury Wine Estates declined an offer which was proposed in April from Kohlberg Kravis Roberts to buy the company for a cash price of AUS$4.70 per share, valuing the offer at AUS$3.05 billion.
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