Destocking Hurts Pernod in the Holidays

Pernod Ricard released a trading statement today on its first half sales results, saying overall sales performance was “satisfactory and in line with our expectations.” Organic net sales growth was around 5%. On the whole, said the company, holiday sales “went well” with most emerging markets enjoying continued strong growth (particularly China, India and Eastern Europe). Pernod also saw solid results in France and Germany.The performance in the U.S. was affected by a reduction in stocks by retailers, which is