Remy Sales Down Significantly in Q1, But Moving in the Right Direction

Dear Client: As expected, Remy Cointreau reported a major slowdown in Q1, with sales down 35% globally for the first quarter ended June, thanks to tough comps and a significant decrease in the Americas. Volumes were also down double digits globally at -26%.   In the Americas, the company recorded a "massive decline" in sales, down more than 60%, "mostly impacted by volume, while price/mix was negative due to the strong underperformance of Cognac compared to liqueurs & spirits," said cfo