Demand for ‘fashionable' Guinness helps fuel Wetherspoon's sales [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
Tim Martin , chairman, said increased popularity of the drink among younger customers helped drive total sales 5.2pc higher in the three months to April 28 compared with a year earlier, with sales up 8.3pc over the year to date. Mr Martin said: “The gods of fashion have smiled upon Guinness, previously consumed by blokes my age, but now widely adopted by younger generations.” Shares rose by more than 4pc as markets opened on Wednesday, after Wetherspoon told investors it expects profits for the year to be towards the top of market expectations. Guinness has benefited from a boom in demand over recent years, shaking off its association with rugby lads and older men to appeal to a younger audience and more women The drink's comparatively low calories compared to other beverages, as well as fatigue with the strong craft beers, have both been suggested as reasons for the boom. It comes after Diageo, the owner of Guinness, said in January there had been a 24pc rise in the number
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DEO
Sec Filings
- 5/3/24 - Form 6-K
- 5/1/24 - Form 6-K
- 4/2/24 - Form 6-K
- DEO's page on the SEC website