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Tag Archive: Ste. Michelle Wine Estates

News Briefs for October 30, 2020

•In third quarter results released this morning, Altria Group Inc. subsidiary Ste. Michelle Wine Estates posted a revenue decline of 6%, with wine shipment volumes falling 3.9% to around 1.9 million cases. Continue reading →

Posted in News on October 30, 2020

Incoming CEO David Dearie On The Ste. Michelle Game Plan

On Tuesday, Ste. Michelle Wine Estates announced that industry veteran and former Treasury Wine Estates CEO David Dearie will become its next chief executive on November 1, replacing the retiring Jim Mortensen. Continue reading →

Posted in News on October 29, 2020

News Briefs for August 6, 2020

•Ste. Michelle Wine Estates has launched H3, formerly part of Columbia Crest, as a standalone brand. Continue reading →

Posted in News on August 6, 2020

Ste. Michelle’s Revenues Slip As Company Aims For Strategic Reset

Ste. Michelle Wine Estates saw first half revenues decline 12% to $277 million as the company battled Covid-19 and looked to reorient its business on stronger footing. Continue reading →

Posted in News on July 29, 2020

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

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