Duckhorn Sales Fall Short in Q2; Brass Cautiously Optimistic for H2

Dear Client: The Duckhorn Portfolio reported flattish (-0.4%) net sales for the second quarter ended January 31, which "fell short of our expectations" due to "challenging market conditions," according to interim ceo Deirdre Mahlan. Volumes for the quarter were down 2.7%.  "However, Duckhorn wines consistently outperformed the broader $15 and above luxury wine market, as reported by Circana," Deirdre added. "While we expect to continue to take share and outpace the luxury market, we believe the softness across the industry