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Pernod Ricard: Q1 sales down 10%

( - Pernod Ricard has reported Q1 2020-21 sales of 2,236 million euros, down 10% in nominal terms, due to a negative FX effect over the period, while they were down 6% organically.

The group notes the continued strong resilience of off-trade in the United States and Europe, the partial reopening of an on-trade channel, which is still disrupted, and travel retail that continued to fall sharply, despite the recovery in some domestic travel.

The French spirits group believes that Q2 2020-21 will continue to suffer badly from the Covid-19 pandemic, although it expects to return to growth in the second half of the year.

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