Bernstein Weighs in on Diageo and the Temptation Toward “Year-end Push”

Dear Client: The Securities Exchange and Commission's inquiry into whether Diageo was shipping excess inventories to its wholesalers might center on liquor, but it struck a chord with a lot of our distributor readers. Many of them chimed in, asking "What about XYZ's overshipments!?" Needless to say, it seems like this practice may happen quite a bit within the alcohol industry and a recent note from Bernstein described how "corrosive and damaging the culture of the 'year-end push' can be."