Vodka Competitiveness Takes a Toll on Smirnoff in H1

Dear Client: Despite a challenging global environment, Diageo delivered 4.6% organic net sales growth in North America for its first half ended December 31. The US led growth with a 6% increase for the portfolio, driven by the company's super and ultra-premium brands and new innovations. However, the growth was muted by a weaker performance at value and standard price points, and increased competition in vodka. PRICE SENSITIVITY IN VODKA: Smirnoff sales were down 5% in North America. Ivan attributes