RTDs & Non-Alc Weigh Down Proximo’s Volume Growth, But Cuervo has Plans to Right the Category

Dear Client:   Grupo Cuervo reported a net sales increase of 20.2% and volume increase of 5% for the third quarter ended September 30, showing the business has been "resilient against macro economic challenges, such as inflationary pressures or continued supply chain constraints," said chief Juan Domingo Beckmann on today's earnings call.  Jose Cuervo volumes were up 7.3% and net sales were up 15.3% in Q3. While Jose Cuervo accounts for the majority of the company's volumes (about 32.4%), other