Treasury Shows Solid US Performance, Looks to Take Pricing

Dear Client:Treasury Wine Estates has found the US "tough" in its first full year since demerging from Foster's, but they've made some progress in fiscal 2012 (12 months ending June 30). Specifically, US depletions (sales to retailers) were up 2.3% in the second half of the year (six months ending June), which represents a 13% turnaround in 12 months. And depletions increased 5% in the fourth quarter. "The Americas region remains a real profit opportunity for TWE," said ceo David