B-F Sales in Decline Fiscal Year-to-Date Amidst Persistent Headwinds

Dear Client: Brown-Forman reported today a net sales decrease of 2% globally for the first nine months of its fiscal year ended January 31, with sales flat on an organic basis.  "In general, the key themes we'll share today are very consistent with what we shared in our last several earnings calls, as market conditions have remained largely unchanged," said B-F chief Lawson Whiting on today's earnings call. "In the current operating environment, which has been challenging and uncertain for