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Daily Archive: August 26, 2011

Sherry-Lehmann’s Adams Optimistic About High-End Wine Business, Expanding Into New Territory

Sherry-Lehmann Wine & Spirits, the 77-year-old retailing powerhouse in New York City, has enjoyed steady growth in the wake of the recession and continued success of its Bordeaux business after Diageo pulled out in 2010. Led by CEO Chris Adams, who was also named chairman in November 2010, the Manhattan institution totaled $44.5 million last year, and Adams says sales were up 13% in the first half of 2011. Shanken News Daily recently spoke with Adams to discuss current retail trends and Sherry-Lehmann’s outlook for the future. Continue reading →

Posted in News on August 26, 2011

Beam To Start Trading As Standalone October 4

Fortune Brands’ board has approved final plans to spin off the company’s home and security products business by October 3, allowing it to begin operating as a pure-play spirits company trading publicly under the name Beam Inc. on October 4. Continue reading →

Posted in News on August 26, 2011

News Briefs for August 26, 2011

•New Zealand’s total wine sales rose 11% to 221 million liters for the year through June 30, as export value jumped 5% to $1.1 billion, according to the New Zealand Winegrowers Association. Continue reading →

Posted in News on August 26, 2011