B-F Raising Prices in the Summer

Dear Client: In its fiscal year earnings call today Brown-Forman execs announced they are raising prices on most of their portfolio by the end of the summer. They plan to raise prices on Jack Daniel's by 3% to 5% on a global basis, with "slightly lower" price hikes on the rest of their brands. Even amid the planned price increases, B-F is forecasting high single digit sales growth globally. But they also warned volumes will likely "slow slightly," said cfo