Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Shares in Remy Cointreau soared by 13% on Friday following the French spirits maker's impressive third-quarter sales figures. The company exceeded expectations, with a notable improvement in the United States, where it had previously faced challenges due to excess inventory.
Lower Sales Decline Predicted for Remy Cointreau
Remy Cointreau revealed that its annual sales decline is expected to be on the lower end of the projected range of 15% to 20%. This comes as welcome news for the company, which revised its full-year guidance in October after experiencing dwindling sales in the aftermath of the COVID-19 pandemic.
The accumulation of high inventories among wholesalers and retailers in the U.S., according to Reuters, had contributed to this decline. Furthermore, China's economic conditions also impacted sales growth in the region.
The spirits maker reported a significant improvement in the U.S. market compared to the previous quarter. However, Remy Cointreau reiterated that it does not anticipate sales to return to growth until the 2024/25 financial year.
The expected economic recovery in China has been slower than initially predicted, restraining full-year sales growth. Notably, the company had already forewarned of destocking leading to the Chinese New Year in February, with Chief Financial Officer Luca Marotta attributing it to a temporary setback.
Resilience in Challenging Markets
According to US News, despite these obstacles, Remy Cointreau emphasized that its performance in both the United States and China—its two major cognac markets—remained aligned with the company's most cautious projections.
Looking ahead, Remy Cointreau remains optimistic. The company expects sustained growth in the U.S. market beyond the short-term rebound while keeping a keen eye on the 2024/25 financial year for a potential return to overall sales growth. The gradual economic recovery in China will likely continue to impact full-year sales.
Remy Cointreau's ability to surpass expectations and navigate challenges demonstrates its resilience in market uncertainties. The spirits maker remains committed to delivering quality and innovation to its loyal customer base.
Investors have reacted positively to Remy Cointreau's impressive third-quarter performance, leading to a significant increase in share price. The company's success reflects its strong position in the spirits market and ability to adapt to changing consumer demands.
Photo: PR Newswire
