Today, Brown-Forman posted its YTD and Q3 results. Here, just-drinks takes a closer look at the company’s performance by region and brand in the nine months to the end of January.
Regions
Go deeper with GlobalData
Brown-Forman’s emerging markets saw a 2% fall in reported sales in the year-to-date. Global currency fluctuations were behind the drop, the firm said, and underlying net sales rose by 6%.
Underlying performance was driven by double-digit sales growth in Turkey, Brazil, Indonesia, Ukraine and sub-Saharan Africa. Russia also delivered growth on an underlying basis, but reported results declined because of the ruble’s devaluation. Mexico sales grew slightly while Poland’s results fell double-digits, with an excise tax increase on 1 January being blamed. Jack Daniel’s Tennessee Whiskey grew underlying net sales by mid-teens in Brown-Forman’s emerging markets.
In the US, underlying sales grew by 7% as the JD stable increased sales by 7%. There was double-digit growth for Jack Daniel’s Tennessee Honey, Gentleman Jack and Jack Daniel’s Single Barrel on an underlying basis. Underlying sales growth in developed markets outside the US was 4% (+1% reported).
See Also:
The UK, France and Canada were “strong performers”, while Germany and Italy had “modest gains”, Brown-Forman said. Australia’s results were down slightly.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataGlobal Travel Retail delivered mid-single digit underlying net sales growth.
Brands
The Jack Daniel’s stable grew net underlying sales globally by 8%, with extension Tennessee Honey finding 32% growth as it entered new markets, Brown-Forman said. Woodford Reserve’s family of brands also grew sales by 32% on an underlying basis. Old Forester grew underlying net sales double-digits.
Finlandia vodka fell by 9% in underlying net sales because of Poland’s excise tax, Brown-Forman said.
Herradura grew underlying net sales double-digits, with large gains in the US and Mexico. El Jimador grew double-digits in the US, but was down in Mexico after a price increase.
Southern Comfort’s stable experienced a 5% decline in underlying net sales with “pressure from flavoured whiskies” being blamed for the peformance.
Sales of Sonoma-Cutrer on an underlying basis rose by high-single digits and Korbel saw underlying net sales up mid-single digits.
