Duckhorn Discontinues Seltzer to Focus on Luxury

Dear Client:    The Duckhorn portfolio reported another outstanding quarter on its Q3 fiscal 2022 earnings call yesterday evening, raising its financial guidance for the second time this year. The company now expects net sales to grow 10%-11% year-over-year for fiscal 2022. Net sales were up 1.3% to $91.6 million for the quarter ended April 30. On a three-year compound annual growth rate basis– which they believe is "indicative of the underlying performance of the business without pandemic-related noise," according