UK hospitality sector suffers £80.8bn loss

The UK hospitality industry has seen sales plummet by £80.8 billion (US$112bn) over the last 12 months, according to new data. Data from the UK Hospitality Quarterly Tracker with CGA reported sales from the start of April 2020 to the end of March 2021 dropped to £46bn (US$63.8bn), a decline of 64% from £126.8bn (US$175.8bn) for the previous 12 months. UK Hospitality said the £80.8bn decrease was equivalent to £220m (US$305m) of sales lost every…

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Rémy Cointreau full-year sales rise 1.8%

French drinks group Rémy Cointreau saw full-year organic sales increase 1.8%, boosted by a double-digit gain for Cognac in the fourth quarter. Rémy Cointreau’s sales for the year ending March 2021 reached €1.01 billion (US$1.2bn), led by a strong performance in the second half. The firm’s fourth quarter sales grew 15.1%. In January, the Rémy Martin Cognac owner reported strong double-digit growth in the third quarter of its fiscal year, which marked the firm’s return…

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Glenturret sales drop 30% in 2020

Luxury goods company Lalique Group reported a 30% decline in sales for Glenturret whisky last year due to the coronavirus pandemic. In April 2019, Lalique Group paid £15.5 million (US$20.2m) for a 50% stake in Glenturret Scotch whisky as part of a joint venture with Swiss entrepreneur Hansjörg Wyss. The brand was previously owned by The Macallan maker Edrington. According to Lalique Group’s full-year sales, Glenturret’s sales fell to €1.3 million (US$1.56m) in 2020. The…

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Cognac sales to grow $303.59m by 2025

Global Cognac sales are predicted to increase by US$303.59 million between 2021 and 2025, boosted by demand from North America, according to a new report. According to a report from market analysis firm Technavio, global sales of Cognac are projected to increase by 2% compound annual growth rate (CAGR) until 2025. In 2021, value growth for the category is projected to rise by 1.34%. The report, titled Cognac Market by Product, Distribution Channel, and Geography…

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US off-trade alcohol sales drop for first time

Sales of alcohol in the US off-trade fell by 1.9% in the week ending 13 March 2021, marking the first decline since the Covid-19 pandemic began. For the seven-day period ending 13 March, spirits sales were flat, while wine dropped by 8.1%, and beer, flavoured malt beverage (FMB) and cider grew 0.4%. Seltzers and FMBs led the growth of the beer segment, with beer alone declining by 2.2%. Hard seltzers rose 29.4% during the period,…

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