Proximo Spirits’ Off-Premise Gains Outweigh On-Premise Losses in Q1

Dear Client: Grupo Cuervo reported a global volume decrease of 9%, while net sales were up 5.3% for the first quarter ended March 31. The COVID-19 pandemic impacted results and that will "continue into the second quarter," said chief Juan Domingo Beckmann on this morning's earnings call, who actually recently recovered from the virus himself. GLOBAL BRAND PERFORMANCE. Jose Cuervo (which represents about 35% of total volumes and 37% of total net sales) was the only category to report volume growth for the