Absolut Drags Pernod’s Full-Year Results

Pernod Ricard finished out a tough year in June, revealing that global net profit dropped 15% to $973 million. Sales in the US were flat as growth from its smaller brands could not offset losses from Absolut.Sales for the vodka brand were down 5% for the year due to a decline in the flavors, said Pernod chief Alexandre Ricard during the company's earnings call. "The core brand is more resilient," he added. To re-engage the brand, Pernod is releasing a