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.
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
Whenever we read anything about Millennial consumers, there is almost always mention of the personalisation trend as well as the importance of social media....
Ever wondered what fuels Anheuser-Busch InBev's acquisitional drive? Is it naked ambition? Faith? The good of mankind?...
Anheuser-Busch InBev is reportedly calling a halt to its Seth Rogan and Amy Schumer Bud Light campaign in the US....
- Diageo NA head on Trump, Millennials, Bourbon
- Has Millennial-mania drowned out elder consumers?
- Interview - Loch Lomond GTR head Andre de Almeida
- Absolut and Smirnoff's conflicting Millennial view
- Brown-Forman's H1 performance by region, brand
- Coca-Cola CEO Muhtar Kent set to stand down
- Diageo wine assets integration head to leave TWE
- Brown-Forman's barrel sales take Scotch hit
- Absolut not "sufficiently focussed" on Millennials
- Angostura places CEO on administrative leave
- Luxury Alcoholic Drinks: The Spirit of Premiumisation
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends