Venezuela's currency controls give consumers cheap Scotch and Barbies, even as they struggle with shortages of staple products such as milk and medicine.» Read More
*Cognac shipments to China up in Q3, sales still negative. PARIS, Jan 22- Remy Cointreau said that cognac shipments to its key Chinese market increased in the third quarter but cautioned that local demand did not show clear recovery signs ahead of next month's Chinese New Year. Remy Cointreau, like rivals LMVH, Diageo and Pernod Ricard, has been hit by the Chinese...
PARIS, Jan 22- Remy Cointreau on Thursday reported third quarter cognac sales well ahead of forecasts, driven by robust demand for premium qualities in the United States while shipments to China improved on weak year-ago comparables. The maker of Remy Martin cognac, Cointreau liqueur and Mount Gay Rum said group sales reached 269.1 million euros in the three...
CARACAS, Dec 23- Venezuelan shoppers line up outside a Caracas liquor store to buy bottles of Buchanan's 12- year Scotch whisky at half the usual cost, a deal made possible by a state subsidy that gave cheap dollars to import them. The same subsidy, provided under the country's three-tiered exchange control system, helps a Caracas merchant do thriving business in...
LONDON, Dec 17- Alcoholic drinks maker Diageo forecast flat sales for the first half of its financial year in the United States, its biggest and most profitable market, after demand over Thanksgiving fell short of its hopes. Part of the reason for the weaker performance is that Diageo is more heavily discounting Smirnoff vodka in the United States as it aims to...
European shares closed lower on Thursday after trimming losses, tracking U.S. markets which partially recovered after visiting correction territory.
Investors, by and large, have ignored fundamentals in the ongoing selloff, five-star fund manager David Herro told CNBC on Thursday.
LONDON, Oct 6- SABMiller boss Alan Clark said on Monday there was no truth in speculation the brewer's interest in buying Dutch rival Heineken was a defensive move aimed at protecting itself from being taken over. In his first public comments since news emerged that Heineken had rejected a bid approach from SABMiller, Clark said it was "not unusual" for his company...
*Takeover of SABMiller seen costing nearly $122 bln. LONDON/ BRUSSELS, Sept 15- SABMiller's rejected bid for smaller brewer Heineken has revived talk about deals that could reshape the global beer industry in coming months. "We believe SABMiller could now be considered to be' in play' and view AB InBev as a potential acquirer," said Numis analyst Wyn Ellis.
Sept 3- The leading vodka brands in the United States are losing their buzz as craft distillers and other alcoholic drinks infringe on their turf. Both Diageo Plc, which markets Smirnoff, and Pernod Ricard SA, known for its Absolut brand, say newcomers to the vodka market are cutting into their sales.
Select Japanese and European equities hold the greatest potential right now, Morningstar's Fund Manager of the Decade David Herro says.
Spirits maker Pernod Ricard reported full-year underlying profit growth of 2 percent, in line with expectations.
ZURICH, Aug 7- Nestle announced an 8 billion Swiss franc share buyback on Thursday and revealed stronger sales growth in emerging markets in contrast to other big consumer products companies.
European shares closed lower on Thursday with investors reacting to quarterly earnings and some disappointing data from the euro zone.
Diageo CEO Ivan Menezes, discusses the company's quarterly results and shares his thoughts on emerging market consumers.
Diageo posted weaker-than-expected earnings on Thursday, hurt by a slowdown in China and volatility in other emerging markets.
Ivan Menezes, CEO of Diageo, says despite weakness in China, the drinks company will continue to focus on the emerging markets.
A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.
With demand growing, distillers are selling more whiskeys without an age noted. So much more matters when it comes to a good whiskey.
European shares closed flat on Monday, at the start of a week packed with important economic data.
Emerging markets got plenty of love from top mutual fund managers at the Morningstar Investment Conference in Chicago this week.