U.S. import tariffs and a flagging Chinese economy are playing tricks on Pernod Ricard. The beverage group is seeing sales decline and expects little improvement in what it calls a year of transition.
Cautious consumers
Sales for the owner of Absolut, Jameson and Havana Club fell 3% to 10.9 billion euros in the broken fiscal year that ended June 30. Net profit fell 9% to 1.83 billion euros. The weaker figures are in line with expectations: the entire spirits sector is currently experiencing a period of reduced sales, as consumers are being more cautious with their spending and moderating their drinking habits.
