Dive Brief:
- Diageo, the world's leading spirits producer, reported sagging sales for the first three months of 2015 ending March 31, the company's Q3. Net sales for Diageo decreased about 0.7% in that time.
- Diageo saw mixed performances in various regions across the world. Reuters reported, "Compared with the previous six months, sales trends also improved in Africa, but worsened in Europe, Asia Pacific, Latin America and the Caribbean."
- Sales ticked up 0.9% in North America.
Dive Insight:
According to Reuters, Diageo blames a number of specific factors that led to its current sales reports, including "British sales that fell by a high single-digit percentage due to a tough comparison with last year, when sales were boosted as customers stepped up purchases ahead of an expected increase in alcohol duties."
One of Diageo's global competitors, Remy Cointreau, reported an uptick in Q4 cognac sales.