Remy’s Cognac Sales Slip in H1, But Underlying Trends “On Track”

Dear Client:Remy Cointreau reported global organic sales down 3.6% for the first half of its fiscal year ended September 30. Though cfo Luca Marotta stressed on this morning's earnings call that underlying market trends remain strong for the company in its key regions of Mainland China and the US. In the US, sales were up mid single digits, "reflecting a strong performance of Liqueurs & Spirits division, partially offset by a more modest cognac performance," said Luca. A couple factors impacted cognac