Remy Cointreau Faces Pricing Headwinds in Q1

Remy Cointreau had a slow start to its fiscal year with global organic sales growth of nearly 6% in the first quarter ended June 30. Sales were up in the low single-digits in the Americas, which accounted for 39% of the company's sales--down 2 points yoy--according to svp and cfo Luca Marotta.Performance in the Americas was largely driven by the US, which was up mid-single digits. A "strong performance albeit below depletion trends," said Luca on this morning's earnings call.