Blog: Diageo takes a tumble
Olly Wehring | 14 October 2009
Shares in Diageo had dipped by nearly 3% on the London Stock Exchange by early this afternoon, following the drinks giant's trading update.
Shares slipped after Diageo said like-for-like net sales were down 6% in the first quarter of its fiscal year.
Despite a strong comparative quarter last year, the performance was worse than expected by several analysts.
Analyst group Sanford C Bernstein said in a note today: "This compares to SCBe and consensus estimates of -3%. This is significantly worse than the implied organic growth rate of -1% in Q4 FY09."
Shares in the group were down 1.5% on the New York Stock Exchange this afternoon.
For those people looking to the Red Planet as shining utopia away from all things earth, look away now....
Bacardi's 42 Below vodka brand has found a novel way to use the lemons left over from cocktail-making: Turn them into liquid soap....
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Diageo Africa president O'Keeffe on beer & spirits
- Travel Retail needs a disruptor - Comment
- What the future looks like for Australian wine
- Diageo ready to lock horns with AB InBev in Africa
- Heineken sees Tesco pull SKUs in UK
- Coca-Cola Co announces senior executive shake-up
- Fever-Tree eyes bumper NPD, pack formats for 2017
- Heineken mulls M&A with $1.75bn notes issue
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global liqueurs insights - market forecasts, product innovation and consumer trends research