Reported about 23 hours ago
Brown-Forman Corp., the maker of Jack Daniel's, announced a 5% drop in full-year net sales to nearly $4 billion, alongside a 15% decrease in net income, primarily due to challenging market conditions caused by global trade conflicts and reduced consumer spending. CEO Lawson Whiting indicated that the upcoming year is expected to be equally tough, highlighting a shift in consumer behavior towards purchasing smaller sizes of spirits amid economic uncertainty. The company's outlook remains cautious, anticipating continued volatility influenced by potential tariffs and consumer spending trends.
Source: YAHOO