Jack Daniels maker Brown-Forman (BF.B) earnings Q1 2024
Finanças Lucros do fabricante de Jack Daniels Brown-Forman (BF.B) no primeiro trimestre de 1 19 minutos atrás Notícias do Bitcoin Ethereum Jack Daniels Tennessee Whiskey Jack Daniels maker on Wednesday fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges and a significant inventory rebuild. Net sales for whiskey products decreased by 1%, led by the brands Woodford Reserve and Gentleman Jack. Sales for Jack Daniels Tennessee Whiskey were flat, the company said, due to lower distributor inventories across the United States. “As anticipated, our first quarter growth was impacted by the difficult shipment comparison from fiscal 2023, when we rebuilt inventory impacted by prior glass supply challenges,” said Lawson Whiting, CEO of the Kentucky-based wines and spirits company. Net sales in the U.S. market decreased 8% amid volume declines. Meanwhile the company saw growth in its ready-to-drink, or RTD, and tequila categories. Its New Mix RTD beverages delivered strong net sales growth of 52%, while its el Jimador tequila brand saw net sales grow by 27%. The companys recent acquisition of its Gin Mare and Diplomático brands were also a bright spot. “We continue to be confident in the strength of our people, our brands, and our business, and reaffirm