B-F Maintains High Single-Digit Growth in the US Despite Headwinds

Dear Client:   For the first half of its fiscal year, Brown-Forman reported a global net sales decrease of 1%. The first quarter largely weighed down results for the half. Sales were up 4% on an underlying basis in the second quarter ended November 31.  The US continues to be a strong performer. Sales were up 9% in the US in H1, driven by volume gains for Woodford Reserve, Old Forester, Jack Daniel's RTDs, Jack Daniel's Honey, Gentleman Jack, Herradura