Pernod Reports Strong First Quarter, Renews With SGWS In 35 StatesOctober 18, 2018
Pernod Ricard reported organic sales growth of 10.4% globally for its fiscal first quarter ended in September. Growth in the U.S. and the Americas was slower, with the company reporting a 2% bump, which Pernod attributed to shipment phasing. The company indicated that U.S. sales trends should rebound and be in line with the modest growth that the company is predicting for the overall market.
In the U.S., Jameson continues to shine for Pernod, up 13.9% to 3.2 million cases last year, claiming 83.5% of the U.S.’s Irish whiskey consumption. Absolut continues to struggle, though the brand’s Lime offshoot had a strong first year, depleting 128,000 cases. The Glenlivet continues to grow, albeit slowly, up 1.2% to 419,000 cases for 2017, according to Impact Databank.
Pernod has also solidified its distribution agreements in the U.S., renewing its 11-state deal with Republic National Distributing Company earlier this month and, today, announcing that it will extend its 35-state contract with Southern Glazer’s Wine & Spirits through 2024.
Globally, Pernod’s growth was driven by gains in India and China, with its Asia-RoW region up 23% due to technical and logistical improvements. Looking forward, the company predicts 5%-7% growth in profit for full-year FY2019, with H1 bolstered by an earlier Chinese New Year.—Shane EnglishSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Pernod Ricard