Remy Reports “Strong Start” to FY Despite Drop in US Depletions

Remy Cointreau reported a strong start to the fiscal year, with global organic sales up 8% for the first quarter ended June 30. However, US depletions (sales to retailers) were in the red thanks to a particularly high basis for comparison, cfo Luca Marotta explained in this morning's earnings call.In the US, the Group Brands' depletions were down 7.7% for the quarter, compared to 19% growth for the same period last year. But to show the brands are still in