B-F Still Confident on Whiskey Category Health Despite Macroeconomic Drags

Dear Client: After reporting a return to growth year-to-date last week [see WSD 03-05-2025], Brown-Forman brass took the stage at the UBS Global Consumer & Retail Conference this morning to chat with UBS analyst Peter Grom and provide more color on the company's overall health and strategy. CONSUMER SENTIMENT STILL LARGELY MACROECONOMIC ISSUE. To set the stage, Peter asked about how B-F's thinking around consumer demand shift has changed over the past 18 months, as B-F chief Lawson Whiting has