financetom
Business
financetom
/
Business
/
Remy eyes full-year sales decline at low-end of range, as China worsens
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Remy eyes full-year sales decline at low-end of range, as China worsens
Jan 28, 2025 10:57 PM

(Corrects consensus figures in third and fourth paragraphs)

PARIS (Reuters) -Remy Cointreau said on Wednesday it now expected the decline in full year 2024/25 group sales to be close to 18% on an organic basis, at the lower end of its guidance target, citing lack of visibility on the timing of a recovery in demand in the United States and worsening market conditions in China.

This was after the maker of Remy Martin cognac and Cointreau liquor posted a smaller than expected decline in third quarter sales, due to weakness in its key U.S. and Chinese markets where potential tariffs could add to the spirits maker's woes.

Remy Cointreau said its sales dropped by 21.5% on an organic basis to 254.1 million euros ($265.25 million) in the third quarter, compared with analysts' expectations of a 23.3% decline in a company-compiled consensus.

Sales of cognac, which makes up the bulk of Remy's revenue, were down 22% in the quarter at 155.7 million euros, versus a decline of 27.6% expected by analysts.

($1 = 0.9579 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Lincoln International to Acquire MarshBerry, Driving New Growth in Insurance and Wealth Management Markets
Lincoln International to Acquire MarshBerry, Driving New Growth in Insurance and Wealth Management Markets
Sep 10, 2025
Strategic Acquisition will Position Lincoln as a Leader in High Growth Financial Services Sectors and Expand Global Platform CHICAGO--(BUSINESS WIRE)-- Lincoln International, a leading global investment banking advisory firm specializing in private capital markets, is pleased to announce its entry into a definitive agreement to acquire MarshBerry, a premier advisory firm that has been serving the insurance brokerage, insurance distribution,...
Form 8.3 - Alphawave IP Group plc
Form 8.3 - Alphawave IP Group plc
Sep 10, 2025
LONDON--(BUSINESS WIRE)--   FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser: Kite Lake Capital Management (UK) LLP (b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming...
Interluxe Group and North & Warren Acquire Quinn to Strengthen the Luxury Marketing Platform’s Communications Offering
Interluxe Group and North & Warren Acquire Quinn to Strengthen the Luxury Marketing Platform’s Communications Offering
Sep 10, 2025
DENVER--(BUSINESS WIRE)-- Mountaingate Capital (“Mountaingate”) announced that the strategic partnership of Interluxe Group, the preeminent luxury-focused experiential agency, and North & Warren, a leader in digital marketing and media for luxury brands, completed the acquisition of Quinn, an award-winning, luxury-focused strategic communications agency. The combined company creates a powerful, integrated marketing platform for luxury brands, bringing together proprietary audience data...
Harbor Group International and CBRE Investment Management Close Acquisition of New England Multifamily Portfolio
Harbor Group International and CBRE Investment Management Close Acquisition of New England Multifamily Portfolio
Sep 10, 2025
Joint venture acquisition expands Greater Boston footprint with 2,700+ units NORFOLK, Va., Sept. 10, 2025 /PRNewswire/ -- Affiliates of Harbor Group International, LLC (HGI), a privately owned international real estate investment and management firm, together with CBRE Investment Management, today announced the closing of four of the properties in a $740 million multifamily portfolio acquisition spanning five properties and 2,719 units...
Copyright 2023-2026 - www.financetom.com All Rights Reserved