Foster’s: “It Takes Time to Turnaround an Ocean Liner”

Dear Client:Foster’s Group noted that the wine review is “on track” in its full year financial results ended June 30, although “wine returns are not where we want them to be.” Global wine volumes declined 5.3%. A number of international factors influenced those numbers, along with consumers increasingly trading down and drinking off-premise. In a statement Foster’s reasoned that “the wine category is bearing the full brunt of a lack of consumer confidence brought on by global economic conditions.”“It was