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July 15, 2013

AUS/US: Treasury Wine Estates to take US$145m hit on US stock clear-out

Treasury Wine Estates (TWE) has announced plans to destroy its old and out-of-date stock in the US, which it estimates will result in a AUD160m (US$145.7m) hit to fiscal 2013 pre-tax profits.

Treasury Wine Estates (TWE) has announced plans to destroy its old and out-of-date stock in the US, which it estimates will result in a AUD160m (US$145.7m) hit to fiscal 2013 pre-tax profits.

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