US: Second quarter profit fall at Mondavi
By just-drinks.com editorial team | 18 January 2002
California wine company, Robert Mondavi, has reported a 24% drop in earnings for the second quarter as a result of slack demand for premium wines and its strategy of reducing wholesale inventories. Net income stood at US$11.6m against US$15.2m last year. Sales for the quarter fell by 7% to US$131.1m.
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California wine company, Robert Mondavi, has reported a 24% drop in earnings for the second quarter as a result of slack demand for premium wines and its strategy of reducing wholesale inventories. Net income stood at US$11.6m against US$15.2m last year. Sales for the quarter fell by 7% to US$131.1m.
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