Diageo’s Global Markets Offset North America Declines in Q3

Dear Client: Diageo reported a global net sales increase of 0.3% for the third quarter ended March, driven by volume growth of 0.4% and despite persistent declines in the US market.  Indeed, North America "remains our biggest challenge," commented Diageo ceo Dave Lewis in today's earnings release. In Q3, organic net sales were down 9.4% in North America, largely due to the decline in US spirits (down 15.4%).  "US spirits net sales were impacted by lapping tough comps last year