Treasury Americas Counting on Luxury-Led Rebound After FY ’23 Declines

Dear Client: Treasury Wine Estates reported global net sales revenue declines of 2.2% for fiscal year 2023, driven by volume declines in both the premium segment in Treasury Americas and its commercial portfolio in the Treasury Premium Brands division, per earnings release.  These losses were partially offset by growth in the luxury portfolio in the Penfolds unit, the company added.  "Our performance was driven by continued growth in our luxury portfolio, where our momentum remains very strong, particularly for Penfolds.