Pernod Ups Investment in E-commerce, A&P and Tequila

Dear Client:   Pernod Ricard's sales continue to be weighed down by declines in the travel retail channel, with total sales down nearly 4% on an organic basis for the first half of its fiscal year. Excluding travel retail, sales were actually up 1%.  STRONG GROWTH IN THE US. In the first half, sales in the Americas were up 2%, driven by strong growth in the US market, up 5%. "We've grown in line with the [US] market by channel,