Consumer Environment Not So Rosy, Says B-F

Dear Client: For awhile it seemed things were looking up. Many wine and spirits companies were reporting slight improvements at the on-premise and consumers trading up. But in a conference call today for the first quarter ended July 31, Brown-Forman execs were singing a different tune. It seems the on-premise and consumer environment in the US isn't doing as well as execs anticipated when they announced their fiscal year results in June. Back then cfo Don Berg said "we're starting