USA: Chalone results hit by strong dollar and slowing economy
Announcing its April-June 2001 results The Chalone Wine Group Ltd recorded a gross profit of $5.4m, an increase of $33,000 for the same period the previous year. Gross revenues were $13.9m, a fall of 4%. Commenting on the results, Tom Selfridge, president of the Chalone Wine Group said: "The US fine wine industry has been hurt by the sudden slowing of the economy, discounting caused by the large 2000 harvest from new producing vineyards and the flood of imported wines due to the strong dollar.
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