TWE Down Double Digits in H1, But Brass Finds Reasons for Optimism

Dear Client: Yesterday evening Treasury Wine Estates issued its earnings report for the first half of fiscal 2026, with global net sales revenue down 16%, driven largely by softer trends in the US and China as well as a reduction in shipments.  By division:  "While the headline results announced today are clearly disappointing, they also reflect the decisive action we are taking to return TWE to a path of long-term, sustainable, profitable growth," said ceo Sam Fischer.   DEPLETION TRENDS A