Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
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
