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Tag Archive: Ste. Michelle Wine Estates

Interview, Part 1: Jim Mortensen, President And CEO, Ste. Michelle Wine Estates

In its first quarter results released last week, Ste. Michelle Wine Estates parent company Altria recorded pre-tax charges of $392 million on Ste. Michelle’s operations—including a $292 million wine inventory write-off and $100 million for losses on future non-cancellable grape purchases. Continue reading →

Posted in News on May 4, 2020

Ste. Michelle Posts Sales Down 3.3%, Takes Write-Off On Inventory, Grape Purchases

Ste. Michelle Wine Estates saw sales decline 3.3% to $146 million in its fiscal first quarter ended in March, as on-premise restrictions due to the Covid-19 crisis cut into the business. Continue reading →

Posted in News on April 30, 2020

Ste. Michelle Posts Flat Sales, Looks To Innovation To Spur Growth

Washington state-based Ste. Michelle Wine Estates saw net revenues slip 0.3% to $689 million in its full fiscal year 2019, with adjusted operating income down nearly 30% to $73 million. Continue reading →

Posted in News on January 31, 2020

News Briefs for January 6, 2020

•Austin, Texas-based Milestone Brands has announced a new joint venture with Mexico’s Grupo PSA to bring Campo Bravo, a 100% agave Tequila, to the U.S. Continue reading →

Posted in News on January 6, 2020

Ste. Michelle Unveils New Innovation Hub, Elicit Wine Project

Ste. Michelle Wine Estates plans to leverage innovation to boost growth moving forward with the opening of a new innovation and brand incubation hub called the Elicit Wine Project. Continue reading →

Posted in News on December 3, 2019

News Briefs for October 31, 2019

•Ste. Michelle Wine Estates posted net revenue down 1.2% to $483 million for the nine months through September, representing the first three quarters of its fiscal year, as operating income fell 32% to $50 million. Continue reading →

Posted in News on October 31, 2019

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