Sales in the U.S. fell 13%, Marie Brizard Wine & Spirits said, attributing the decline to “new distribution contracts which cover 30 states. Over the course of 2016, a destocking impact that primarily affected Sobiesky occurred, leading to inventory declines of 13%, largely concentrated in the fourth quarter.
If it hadn’t been for that destocking effect, sales in the Americas region overall might have been better. As it is, Marie Brizard posited a 1.7% decrease in the Americas, but EBITDA grew 51,4% last year.
For the company as a whole, global net sales fell 3.3%, but net income rose 19%.