Pernod Ricard reports sales for the third quarter totaled €2 billion ($2.25 billion) in the third quarter. In the Americas, which accounts is Pernod’s second largest market, improving performance in Latin America and the start of wholesaler optimization in the U.S., sales rose 2%.
Sales in Asia-Rest of World also rose 2%, in line with expectations, as they did in Europe.
Berenberg’s beverage analysts noted the third quarter is Pernod’s most difficult because of U.S. wholesaler optimization, weaker sales in Asia-Pacific owing to the Chinese New Year, and retailer disputes in Asia.
U.S. wholesaler optimization will continue to impact results into the fourth quarter, Barenberg said in a note to clients.