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0 0.00193325142298338 0.00221910182793821 0.00221910182793821 0.00802412176224272 0.00570948572001705 0.00601288834281989 0.00649432060379632
Stock impact report

Another major wine brand closes winery, lays off workers [Yahoo! Finance]

First Citizens BancShares, Inc. - Class A (FCNCA) 
Company Research Source: Yahoo! Finance
Industry experts have blamed a decline in consumption from the Baby Boomer generation for the decrease in sales and volume. Boomers drink less wine “Boomers are drinking less, and there are fewer of them every day,” wrote Rob McMillan, executive vice president and founder of the Silicon Valley Bank Wine Division. “They are replaced by the younger cohorts who aren't as much in love with wine as their elders,” McMillan, author of Silicon Valley Bank's State of the US Wine Industry Report , wrote. “It should be noted that this current flock of consumers under 30 drinks less than any similarly aged group, as far back as records go.” Lower consumption has led to a decline in volume and revenue in the industry. U.S. wine industry volume declined to 329 million cases produced in 2025, compared to 335.9 million cases in 2024. Winery revenue declines in 2025 Wine industry revenue also declined in 2025 to $74.3 billion, compared to $75.5 billion in 2024, according to the Wine Ind Show less Read more
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