B-F Growth Driven by Brown Spirits, Line Extensions

Brown-Forman had a solid start to the year with underlying net sales up 5% in the US for the first quarter ended July 31. Growth was driven by the Jack Daniel's family; Woodford Reserve and Old Forester, which both had underlying net sales growth in the double digits; and Herradura and El Jimador, which delivered underlying net sales growth in the mid-teens.RESPONDING TO INCREASE IN COMPETITION. Several questions on this morning's earnings call were about competition from the craft space.