Cuervo’s Sales Increase 5.3% In First Quarter, With North America Up Nearly 15%
April 30, 2020Grupo Cuervo saw robust sales growth in the first quarter despite the Covid-19 crisis, with its North American sales soaring 15% to MX$3.5 billion ($146m) on a volume increase of 6.4% to 2.1 million cases. Globally, the company’s sales rose 5.3% to MX$5.2 billion ($217m) during the first three months of the year, despite a volume decline of 9% to 3.4 million cases. Consolidated net income slipped 0.8% to MX$698 million ($29m) as high agave prices continued to weigh down earnings.
The company’s core Jose Cuervo brand saw global volume increase 5.8% to 1.2 million cases in the first quarter, with net sales up 18.2% to MX$1.9 billion ($79m). While Cuervo saw rapid growth in the U.S. and its international business, it was partially offset by a slowdown in Mexico, where volume fell 40% owing to softness in the Tequila category.—Daniel Marsteller
| Proximo Spirits—Leading Brands in the U.S. (thousands of 9-liter case depletions) | |||||
| Rank | Brand | Type | 2018 | 2019 | Percent Change1 |
|---|---|---|---|---|---|
| 1 | Jose Cuervo | Tequila | 3,607 | 3,865 | 7.2% |
| 2 | Jose Cuervo Margaritas | Pre-Mixed Cocktail | 2,224 | 2,331 | 4.8% |
| 3 | 1800 | Tequila | 1,048 | 1,148 | 9.5% |
| 4 | 1800 Ultimate Margarita | Pre-Mixed Cocktail | 515 | 594 | 15.2% |
| Total Leading Brands2 | 7,395 | 7,938 | 7.3% | ||
| 1 based on unrounded data 2 addition of columns may not agree due to roundingSource: IMPACT DATABANK © 2020 |
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Tagged : 1800, Jose Cuervo, Proximo Spirits
