Cognac

Pernod Ricard Cuts Sales Forecast On Poor Outlook For China

French drinks company Pernod Ricard cut its 2025 and longer-term outlook on Thursday, citing challenging market conditions in China.

French cognac maker Hennessy has suspended a plan to bottle its brandy in China to avoid tariffs, staff briefed by management have said.

Campari has warned that its ability to grow gross margins this year would likely be impacted by “some temporary headwinds.”

Investors for Remy Cointreau have said that it needs to diversify as its reliance on cognac leaves it badly hit by a global spirits downturn.

French spirits sales and exports have dropped sharply this year as consumers continued to cut back on spending in the face of cost of living.

Pernod Ricard’s shares rose 6% on Thursday, even as the company cut its full-year sales forecast after expected improvements failed to materialise.

French spirits group Rémy Cointreau reported a higher-than-expected 16.2% organic rise in operating profit for its 2022/23 fiscal year, and stu...

French wine and spirit exports rose 11% last year to hit a new record, mainly boosted by a rise in prices.

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