Dear Client: Despite a tough macroeconomic environment, Brown-Forman's global reported net sales were down 1% for the first quarter of fiscal 2027, ended July. Geographically speaking, net sales declines in developed international markets (Germany, Australia, the United Kingdom, France, and Spain) and the United States were partially offset by growth in emerging markets (including Mexico, Poland, Brazil, and Türkiye). "In summary, our first quarter unfolded largely as expected," commented B-F chief Lawson Whiting on this morning's earnings call. "While pressures
