Rémy Cointreau: 9m sales down 4.1%
(CercleFinance.com) - Rémy Cointreau has posted 9m 2019-20 sales of 814 million euros, down 4.
1%, under the weight of the voluntary withdrawal from certain distribution contracts of partner brands in Europe and the United States.
However, the wine and spirits group's brands posted 1.6% growth, thanks to favourable FX factors. In organic terms (at constant currencies and consolidation scope), sales fell by 1%, with a high comparison basis (+10.3% over the first nine months of 2018/19).
When it changed its management, Rémy Cointreau decided to suspend its annual and medium-term targets provided earlier. The group's annual results, due on 4 June, will provide the roup be an opportunity to share the new plan regarding the implemention of its strategic vision.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
1%, under the weight of the voluntary withdrawal from certain distribution contracts of partner brands in Europe and the United States.
However, the wine and spirits group's brands posted 1.6% growth, thanks to favourable FX factors. In organic terms (at constant currencies and consolidation scope), sales fell by 1%, with a high comparison basis (+10.3% over the first nine months of 2018/19).
When it changed its management, Rémy Cointreau decided to suspend its annual and medium-term targets provided earlier. The group's annual results, due on 4 June, will provide the roup be an opportunity to share the new plan regarding the implemention of its strategic vision.
Copyright (c) 2020 CercleFinance.com. All rights reserved.