Ste. Michelle Wine Estates Sales Slip 6% For 2017February 1, 2018
Washington state–based Ste. Michelle Wine Estates reported a 6.4% net revenue decline to $698 million for the year ended December 31. The winemaker’s shipment volumes were similarly soft, falling 8.6% to around 8.5 million cases, with parent company Altria citing negative impact from “competitive activity, continued trade inventory reductions and slower premium wine category growth.” The company’s full-year results were also hampered by a challenging fourth quarter, during which Ste. Michelle’s net revenues fell 8.5%, to $227 million, and shipments slipped 9.7% to around 2.8 million cases. According to Impact Databank, Ste. Michelle’s 14 Hands and Columbia Crest brands slowed from double-digit growth in 2016 to growth of 2.5% and 1% respectively last year. —Christina JelskiSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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