LVMH shows signs of recovery in Q3

The wine and spirits business of LVMH saw a marked improvement in trends during its third quarter after significant losses in the second quarter of 2020. Organic revenue for wine and spirits fell by 3% in the three months to 30 September to €3.349 billion (US$3.9bn), markedly better than the 33% sales drop in the second quarter, and the 14% decline in the first quarter. Organic revenue for the first nine months of 2020 was…

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Pernod Ricard full-year sales slump as Covid-19 bites

French drinks group Pernod Ricard has reported a 9.5% organic sales drop in its 2020 full-year financial results after the Covid-19 pandemic significantly impacted travel retail and on-trade sales. Despite ‘robust’ sales growth in the first half of its financial year, the second six months (ending 30 June 2020) were affected by Covid-19. Sales in the fourth quarter fell by 36.2% to €1.238 billion because of the problems the pandemic presented for travel retail and…

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Diageo reports 47.1% profit loss in fiscal 2020

Johnnie Walker owner Diageo saw operating profit decline 47.1% in its 2020 fiscal year due to the impact of Covid-19 on its key markets. For the year ending 30 June 2020, Diageo’s reported operating profit declined by 47.1% to £2.1 billion (US$2.7bn). Organic net sales fell by 8.4% to £11.8bn (US$15.4bn). The group also noted a non-cash impairment charge of £1.3bn (US$1.7bn), related to its businesses in India, Nigeria, Ethiopia and the Windsor whisky brand…

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Beam Suntory H1 sales hit by Covid-19 crisis

Maker’s Mark owner Beam Suntory saw its net sales decline 3% in the first six months of 2020 due to the coronavirus pandemic. From January to June 2020, Beam Suntory’s net sales in the US fell 3% as a result of “significantly lower” revenue due to the closure of the on-trade, which was offset by a boost in the off-trade. “While our sales were substantially below our expectations at the start of the year, the…

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Campari sales drop 11.3% in H1

Aperol owner Campari Group saw organic sales fall by 11.3% in the first half of 2020 due to on-trade restrictions in markets across the world as a result of the pandemic. Total group sales reached €767.2 million (US$900m) during the first six months of 2020, down from €848.2m (US$995m) year-on-year, as a result of the impact of the Covid-19 crisis on the Italian firm. In May, the group reported a 5.3% fall in sales in…

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