Diageo Plans Summer Price Increases

Dear Client: Diageo North America plans to "take price" and is "counting on an uplift in spend" for advertising and promotions, said Larry Schwartz, Diageo US president during an investor conference today. This is according to a report from Dow Jones. [Ed note: WSD will have more coverage of the conference tomorrow once the replay is available]. He went on to say that "unprecedented spending will be happening in the quarter." Larry said they used promotions in the downturn to