Campari Posts 3.5% U.S. Growth In First QuarterMay 8, 2018
Campari Group saw its U.S. sales rise 3.5% in the three months through March despite a tough comparison with the year-earlier period and the ongoing struggles of Skyy vodka. Campari’s U.S. growth was driven by recent acquisition Grand Marnier, as well as Wild Turkey Bourbon and the Espolòn and Cabo Wabo Tequila brands. Italian liqueurs Aperol and Campari also continued to thrive, both rising by double-digits. Solid progress from those brands helped offset a mid-single-digit decline for Skyy, which continues to be affected by “persistent competitive category pressures, weakness within flavored vodka as well as category share loss to craft vodka,” according to the company. Globally, Campari’s sales were up 2.2% to €336 million ($399m) on an organic basis, but down 8% on a reported basis owing to currency fluctuations. EBIT grew 9% on an organic basis to €61 million ($72m) but fell 5% taking into account foreign exchange.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.