Diageo Chief: Slowdown a Result of Pricing Competition, Weak On-Trade

Like many retailers this holiday season, Diageo reported lackluster Thanksgiving sales in a progress update call with analysts this morning. Although the last two weeks of December are "crucial," Diageo North America chief Larry Schwartz says the company's first half sales (ending December) will broadly be flat. Diageo estimates that spirits growth for 2014 will be about 3%-3.5%, representing a 0.5%-1% slowdown for spirits. "The slowdown is a result of increased pricing competition, especially in the premium tier, and by