Pernod Ricard reports net sales fell 9% on a GAAP basis. Net profit fell 6%.
Sales rose 2% in the Americas, with “good growth in most domestic markets, with particular dynamism in USA, but significant declines in Travel Retail, the company said. The increase in sales in the Americas was is distinct contrast to the 6% decline in Asia-Rest of World and in Europe, which was down 6%.
Strategic International Brands fell 6%. Malibu, Jameson and The Glenlivet all gained, but the overall category impacted by Travel Retail exposure. Martell and Scotch grew in domestic markets. Strategic Local Brands fell 4%: mainly driven by Seagram’s Indian whiskies and Seagram’s Gin in Spain.
Specialty Brands grew 22%, continuing the very dynamic development of Lillet, Malfy, Aberlour, American whiskies (Jefferson’s, TX, Rabbit Hole and Smooth Ambler), Avion and Redbreast• Strategic Wines +3%: solid growth thanks mainly to Campo Viejo and Brancott Estate.