US: Diageo dismisses fears of US slowdown - report
Diageo has declared that this week's US interest rate cut would give a boost to consumers, but there had been minimal impact from any slowdown on its drinks, according to reports.
In an interview with Reuters, Diageo CEO Paul Walsh said that the cut in US rates was welcome but he had not seen any sign of a slowdown in demand for its Johnnie Walker, Guinness and Napa Valley brands.
Walsh said: "Any slowdown is being felt at the price-orientated area and that is an area that only accounts for around 10% of our portfolio."
"The person who is suffering is typically a family living in rural America with an annual income of US$50,000, with two inefficient cars and three children. This is not our target consumer, but is rather a domestic beer consumer," added Walsh.
Diageo's acquisition of Bushmills Irish Whiskey from Pernod Ricard in 2005 heralded a major change for the brand. As Shivaun Lucey, global brand director, Bushmills, stresses in this month's Just the ...
The steep rise in alcohol duties announced in yesterday's Budget, which the Government says will help to tackle binge drinking, follows the publication of its review of the 2005 Licensing Act last wee...
Constellation has warned that the recent hike in duty on wine in the UK could mark the end of the GBP3.99 (US$8.12) a bottle price point in the country....
Taxes on alcohol in the UK have been raised markedly in today's (12 March) Budget announcement....
The Boston Beer Company has posted a strong set of results for the end of the year, with net profit almost trebling in the final quarter....
Foster's group has announced the addition of a former Diageo executive to its board of directors....
Carlsberg's bid to take over part of Scottish & Newcastle has been approved by the European Union....
Diageo, Heineken and Namibia Breweries have created a "paper company" joint venture for their drinks units in South Africa....
- Analysis - Remy's Cognac "dead-cat bounce"
- Diageo's future brighter than present suggests
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Diageo's Q1 Results by Region
- Focus - Remy Cointreau's H1 Performance by Brand
- Moët Hennessy unveils first Travel Retail outlet
- Diageo puts Beckham centre stage in Haig Club ad
- United Spirits sees Q1 net loss
- Beam Suntory, Edrington part ways in Travel Retail
- TWE unveils Penfolds range after CEO's "bold move"