Why concerns about Rémy Cointreau's outlook continue [Yahoo! Finance]
REMY COINTREAU UNSP/ADR (REMYY)
NASDAQ:AMEX Investor Relations:
remy-cointreau.com/en/finance/publications
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Source: Yahoo! Finance
With Cognac accounting for around two-thirds of the French group's sales, the Rémy Martin brand owner suffered amid the category's travails in the two largest markets for the spirit – China and the US. When Rémy Cointreau reported its third-quarter (and nine-month) sales in January, the group's management cautiously indicated the company was seeing signs its faltering Cognac business was stabilising in both countries, although CFO Luca Marotta said US depletions were, at the time, “still negative”. Investor and analyst sentiment about Rémy Cointreau going into the company's fourth-quarter (and full-year) sales, which were announced on Friday (26 April), was somewhat muted. The consensus among analysts was the business would report a 3.4% decline in fourth-quarter sales but, in the end, it booked a 0.7% dip, a result Rémy Cointreau described as a “strong sequential improvement”. Annual sales were down 19.2% on an organic basis at €1.19bn ($1.27bn). Fourth-quarter Cognac sales
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News
- France: China does not wish to see Cognac tariffs applied amid anti-dumping investigation [Yahoo! Finance]Yahoo! Finance
- Rémy Cointreau: FY 2023-24 sales: -19.2% on an organic basis [Yahoo! Finance]Yahoo! Finance
- Rémy Cointreau: FY 2023-24 sales: -19.2% on an organic basisBusiness Wire
- Cointreau Announces the First-Ever Lime of Credit, a Fresh Twist on Funding Cinco de Mayo Celebrations [Yahoo! Finance]Yahoo! Finance
- Remy Cointreau: Growth Should Return This Year [Seeking Alpha]Seeking Alpha