Brown-Forman FY sales hit by Covid-19

Jack Daniel’s producer Brown-Forman reported a 1% net sales increase for its 2020 fiscal year, however the Covid-19 pandemic “negatively affected” the company’s major markets. Reported net sales for the year ending 30 April 2020 reached US$3.4 billion, while reported operating income dipped 5% to US$1.1bn. During the previous fiscal year, the group was impacted by tariff pressures.  For the fourth quarter, the firm’s net sales fell by 5% to US$709 million. In March 2020,…

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