Blog: Olly WehringDiageo 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.



Starbucks jumps on gin bandwagon

Starbucks has become the latest company to tap into the gin craze, with the launch of Starbucks Reserve Gin Barrel-Aged Cold Brew....


Feeling Blue on Monday? Help is at hand

It may not be scientific, but the third Monday in January has been coined 'Blue Monday' - the most depressing day of the year. Dreamed up in the UK by a psychologist commissioned by a holiday company ...


Bad day on the beer? This'll help

If you work for a brewer and are having a rough week, take a minute to regain some perspective with this, from the good people at US craft beer producer Sierra Nevada Brewing Co....


Brewers Association "bid" to buy Anheuser-Busch InBev strikes a chord

Is this a case of if you can't beat them, buy them?...

Forgot your password?