Despite Soft H1, Pernod CEO Says Underlying Trends “Remain Absolutely Attractive”

Dear Client: Pernod Ricard was off to a"soft" start to fiscal 2026, with global organic sales down 5.9% (down almost 15% on a reported basis) for the first half of the fiscal year, ended December 31, per earnings materials.  Part of that slow start was driven by unfavorable foreign exchange impact, linked to the US dollar among a handful of other currencies. However, global Q2 trajectory showed some improvement, notably in the global travel retail and India markets. Despite the