UPDATED US: Economy hits Pernod Ricard on-trade sales

Author: just-drinks.com editorial team | 26 September 2008

The economic downturn in the US has hit on-trade sales of some Pernod Ricard drinks brands, as more consumers drink at home, the French company has confirmed.

Paul Duffy, CEO of Pernod in the US, told a news conference yesterday (25 September) that some drinks brands had reported a decline in the on-trade. He did not disclose which ones.

Duffy added that this reflected a consumer shift to the off-trade, rather than outright sales decline for the brands, a Pernod spokesperson told just-drinks this afternoon (26 September).

Pernod announced for the first time earlier this month that its full-year performance could be damaged by a "severe deterioration" in the business climate.

Duffy said that premium and ultra-premium drinks had continued to sell well in the US, despite growing financial turmoil, the Pernod spokesperson said.

She also confirmed comments made by Pernod CEO Pierre Pringuet yesterday, in which he said that the French wine and spirits group did not intent to make any further acquisitions for three years.

Sectors: Spirits

Companies: Pernod, Ricard