Brown-Forman’s Full-Year Sales Rise 10% To $4.2 Billion
June 7, 2023Brown-Forman has posted a 10% increase in full-year sales to $4.2 billion, as operating income grew 6% organically to $1.1 billion. Fourth quarter sales came in up 4% to $1 billion.
Brown-Forman’s U.S. sales grew 3% for the year, “driven by higher volumes of Woodford Reserve partially reflecting an estimated net increase in distributor inventories, higher prices across the portfolio led by the Jack Daniel’s family of brands, and the launch of the Jack Daniel’s & Coca-Cola RTD.” On the other hand, the company said “lower volumes of Jack Daniel’s Tennessee Whiskey and Korbel California Champagne partially offset the growth due to an estimated net decrease in distributor inventories.”
“We were able to build on last year’s double-digit organic net sales growth by continuing the premiumization of our portfolio, investing boldly in our brands, building new strategic relationships, developing and supporting our talented people, and honoring our values,” said Brown-Forman president and CEO Lawson Whiting.—Daniel Marsteller
| Brown-Forman—Top 10 Spirits Brands in the U.S. (thousands of 9-liter case depletions) |
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| Rank | Brand | Origin/Type | 2021 | 2022 | Percent Change1 |
|---|---|---|---|---|---|
| 1 | Jack Daniel’s2 | Tennessee Whiskey | 5,570 | 5,434 | -2.4% |
| 2 | Woodford Reserve3 | Bourbon/Rye | 1,119 | 1,278 | 14.2% |
| 3 | El Jimador | Tequila | 848 | 921 | 8.6% |
| 4 | Jack Daniel’s Tennessee Honey |
Flavored Whiskey | 793 | 746 | -6.0% |
| 5 | Gentleman Jack | Tennessee Whiskey | 458 | 439 | -4.2% |
| 6 | Old Forester4 | Bourbon | 378 | 427 | 13.1% |
| 7 | Jack Daniel’s RTDs5 | Premixed Cocktail | 260 | 419 | 61.0% |
| 8 | Herradura | Tequila | 363 | 384 | 5.9% |
| 9 | Jack Daniel’s Tennessee Fire |
Flavored Whiskey | 356 | 370 | 3.9% |
| 10 | Korbel | American Brandy | 273 | 259 | -5.0% |
| Total Top 10 | 10,418 | 10,677 | 2.5% | ||
| 1 Based on unrounded data. 2 Excludes flavors and RTDs/FMBs; includes Single Barrel, Bonded, Rye, No. 27 Gold, and Sinatra. 3 Includes Double Oaked and Reserve Rye. 4 Includes 86 proof, 100 proof, and craft. 5 Excludes Country Cocktails (malt-based) Source: IMPACT DATABANK © 2023 |
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