One is the protests in Hong Kong, which may affect as much as 25% of Remy Cointreau’s Asian sales, and the other is the threat of U.S. tariffs, according to Barenberg’s beverage analysts, who estimate that 36% of group net sales originated in the U.S. in 2019, of which 86% were EU imports.
Barenberg downgraded its earnings forecasts for Remy 9%, but noted the share price is down 14% and concludes: “Now is not the time to sell.”