Proximo Looks to Innovate in RTDs as Category Drags Q4 Results

Dear Client: Cuervo's fiscal year 2024, ended December, saw global volumes decline 6.2%, with every major region seeing volume losses. Meanwhile, global net sales were down 0.9% for the year. Once again, foreign exchange impact lifted results, as global sales were down 2.9% on a constant currency basis. In Q4 alone, global volumes were down 8.4%, driven by double-digit declines in their US and Canada (Proximo Spirits) business. Meanwhile, global net sales were down 2.0% for the quarter. On a