Blog: The American way
Chris Brook-Carter | 4 November 2003
Following a similar story for rival Allied Domecq a couple of weeks ago, Pernod was hit for €207m in what was an otherwise encouraging set of results, with underlying sales growth up 8.5% in the period.
Interestingly, just-drinks is attending a seminar this evening held by the Wine & Spirit Association on treasury and foreign exchange risk management. In view of the strengthening euro and the effect it has had on the drinks trade in the last 12 months, it should prove to be an interesting discussion.
Away from forex issues, the US continues to show encouraging signs of a recovery. Pernod said its US wine and spirits sales enjoyed accelerated organic growth during the 3rd quarter driven by an economic recovery in the country, and achieved a nine-month cumulative growth rate of 10.8%. Combined with Allied’s news two weeks ago that the strength of its US division helped negate a weaker Eurozone, there appears to be light at the end of the tunnel.
This assumption is also borne out outside the drinks industry. From July to September, said the Commerce Department, the US economy recorded its fastest growth rate since 1984, with a 7.2% rise in GDP. That said there are still concerns. In particular, the bears point to the still high levels of unemployment and continuing anxiety among investors. The next six months will attract a lot of attention as the US audience tries to gauge whether this recovery is sustainable.
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
- Has the politics of M&A changed? - Analysis
- IAADFS Duty Free Show of the Americas - Preview
- Interview, Fever-Tree's founders
- Coca-Cola Co announces senior executive shake-up
- Diageo's Captain Morgan LocoNut - NPD
- Heineken releases colour-change bottles
- Diageo rolls out vegan Baileys Almande Almondmilk
- Heineken sees Tesco pull SKUs in UK
- 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 rum insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends