Penfolds Maker Treasury Scraps 2026 Guidance on China, US Uncertainty [Yahoo! Finance]
TREASURY WINE EST S/ADR (TSRYY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
(Bloomberg) -- Shares in Treasury Wine Estates Ltd. dropped to a 10-year low after the Australian vintner scrapped its earnings guidance for the 2026 financial year and paused a planned share buy-back due to uncertain outlooks in two of its major markets. Most Read from Bloomberg Newsom Stares Down LA Revolt in New California Housing Fight HUD Issues Layoff Notices, Targeting Fair Housing Staff With Deep Cuts Billionaire Caruso Says He No Longer Builds in LA Due to Prices Mapping a Way Out of the US Housing Affordability Crisis The Secret to Vancouver's Public Transit Ridership Recovery The producer behind the iconic Penfolds brand cited lower-than-expected stock depletions in China throughout September, adding in a statement Monday that if the trend continued then “depletions targets for F26 in China are unlikely to be achieved.” The winemaker's share price fell by as much as 14% on Monday morning, to the lowest since September 2015. Meanwhile, a distributor transiti
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