DTC Shift Weighs Down Duckhorn’s Q3 Sales

Dear Client:     The Duckhorn Portfolio reported a net sales decrease of 0.4% for the third quarter ended April 30. The slight dip in sales was in line with the company's expectations, and mainly due to the impact of shifts in timing in the direct-to-consumer channel.  WHOLESALE SEGMENT STRONGEST GROWTH CONTRIBUTOR. The wholesale to distributor channel returned to growth in the third quarter, with net sales up 10.3%, "representing our strongest growth contributor," said cfo Lori Beaudoin on yesterday afternoon's