Remy in a Year of Transition

Dear Client:  Remy Cointreau reported a 15.6% decline in sales globally in organic terms for the first quarter of its fiscal year.  "This performance of the quarter reflects continued destocking, particularly in the US; high base of comparison, notably in APAC and EMEA; as well as a soft context of consumption globally alongside strong promotional activity," explained cfo Luca Marotta on today's earnings call.  CATEGORY PERFORMANCE. Cognac sales were down 12.2% globally on an organic basis in Q1. Continued destocking