None
SW
Jack Daniel's Parent Brown-Forman Beats Quarterly Sales Forecast
[]
ESM Magazine
Jack Daniel's maker Brown-Forman beat Wall Street estimates for first-quarter sales on the back of steady demand for its ready-to-drink beverages and spirits.
Brown-Forman said sales in international markets were hit in the quarter due to the absence of American-made alcohol from retail shelves in most Canadian provinces.
ADVERTISEMENTQuarterly HighlightsOrganic sales in the United States fell 2% in the quarter, compared with a 4% drop a year earlier.
Overall, organic sales, which exclude the impact of acquisitions and divestitures, was up 1%, compared with a 4% decline a year earlier.
Net sales for the quarter ended 31 July fell 3% from a year earlier to $924 million, compared with estimates of $909.2 million.
['readytodrink'
'president'
'estimates'
'beats'
'markets'
'quarter'
'sales'
'brownforman'
'daniels'
'compared'
'quarterly'
'forecast'
'jack'
'impact'
'company'
'parent']