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-8.29966146117342E-05 -0.00229332750900959 -0.00720760074260125 -0.00720760074260125 -0.014305995413345 -0.0247897783116741 -0.0481172873211752 -0.0617560336354701
Stock impact report

Guinness maker Diageo cuts outlook on weak US, China demand [Yahoo! Finance]

Diageo plc (DEO) 
US:NYSE Investor Relations: diageo.com/en/investors
Company Research Source: Yahoo! Finance
Paul ELLIS/AFP/AFP Diageo, the maker of Guinness stout and Smirnoff vodka, cut its sales outlook and slashed shareholder payouts Wednesday, as its new chief executive seeks to revive the struggling drinks group. The British company said it expects full-year net sales to fall two to three percent in its fiscal year ending on June 30, citing weakness in the United States and China. "Only several weeks in, I can already see significant opportunities for Diageo to act more decisively to enhance its competitiveness," chief executive Dave Lewis said in an earnings statement Lewis, a former chief executive of British supermarket giant Tesco who has a reputation for cost-cutting, took the helm in January following the sudden departure of Debra Crew. Net sales fell four percent to $10.5 billion in the six months to December, compared with one year earlier, Diageo said. Net profit, meanwhile, rose 3.1 percent to almost $2 billion in its first half. In an earnings presentation, Le Show less Read more
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