Remy Deals with “Challenging Year” But Shows “Sequential Improvement”

Dear Client: Remy Cointreau's global sales continue to drop this fiscal year, with global organic sales down 6.5% for the nine months ended December 31, largely thanks to strong comps and slow replenishment. "Clearly this year is a challenging year for the group," said cfo Luca Marotta on this morning's earnings call. "Sales are down 6.5% in the nine months period, in organic terms. Some drivers of this decline are self-inflicted for the sake of the group's long-term vision and some others