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LONDON (AP) — Spirits and beer giant Diageo PLC saw billions wiped off its market value on Friday after it warned that a sharp slowdown in its business in Latin America and the Caribbean was hitting sales and potential profits. It blamed a “materially weaker” outlook in Latin America and the Caribbean as a result of “macroeconomic pressures" and customers downtrading to cheaper products. The region accounts for around 11% of Diageo's total sales. The group highlighted that it still expects an improvement in growth in North America, while its businesses in Europe and Asia Pacific witnessed “continued momentum,” though slower than the previous half-year. “It has impacted results for the region since we have stopped trading in some parts," he said.

Persons: Johnnie Walker, Morgan, “, Debra Crew, ” Sophie Lund, Yates, stockbrokers Hargreaves Lansdown Organizations: Diageo PLC, Guinness, Asia Pacific, Diageo, stoke Locations: Latin America, Caribbean, London, America, North America, Europe, Asia, Gaza

☆ A co-investment chief at billionaire investor Mario Gabelli's firm shares 3 stocks with strong pricing power he's betting on as inflation remains sticky — including one that could surge 53%
▼ + stars: | 2023-08-25 | by ( William Edwards | ) www.businessinsider.com time to read: +3 min

In such an environment, pricing power is crucial to a firm's success, says Kevin Dreyer. One of the qualities that makes a company attractive to them is strong pricing power: being able to hold prices steady in tough times or even raise them as inflation surges. "I don't tend to think of private label firms as having the best pricing power out there, but that said, what Treehouse has done is pretty unique," he said. The third firm Dreyer talked about was BellRing Brands (BRBR), which owns protein snack brands like PowerBar and Premier Protein. Dreyer also thinks they're a good candidate to be acquired by a larger firm at a premium.

Persons: Kevin Dreyer, Mario Gabelli, Dreyer, Captain Morgan, Don Julio, Baileys, Johnnie Walker, they'll, " Dreyer, they're Organizations: Funds, Diageo, BellRing Brands, Diageo Brands, Guinness, Scotch Whiskey Association, Treehouse Foods, PowerBar Locations: North, South America, India, France

LONDON, Aug 1 (Reuters) - Tanqueray gin maker Diageo (DGE.L) narrowly beat full-year earnings estimates on Tuesday as sales of its more expensive liquor brands offset lower volumes. Diageo's most expensive brands accounted for 57% of its overall organic net sales growth, it said. Diageo said full-year sales were driven by a strong first half. Diageo said its organic net sales increase reflected gains of 7.3 percentage points from higher prices and a more premium mix while organic sales volumes fell 0.8%. Diageo's organic operating profit rose 7%, beating the 6.3% expected by analysts.

Persons: Bourbon, Don Julio, lockdowns, Johnnie Walker, Morgan's, Tineke Frikkee, Debra Crew, Ivan Menezes, Diageo, Richa Naidu, Louise Heavens, Jason Neely Organizations: Diageo, Waverton Investment Management, Thomson

☆ Ivan Menezes, Who Led a Liquor Giant, Dies at 63
▼ + stars: | 2023-06-14 | by ( Daniel E. Slotnik | ) www.nytimes.com time to read: +1 min

Ivan Menezes, who as chief executive of the spirits corporation Diageo used his canny understanding of the drinking public to help the company grow into a global colossus, died on June 7 in London. The cause was complications of emergency surgery for a stomach ulcer, a Diageo spokesman said. Diageo is omnipresent in the world of alcohol, selling more than 200 brands in more than 180 countries — including Smirnoff vodka, Tanqueray gin, Johnnie Walker Scotch, Captain Morgan rum and Guinness beer — and has the largest global net sales in some spirit categories. Mr. Menezes (pronounced muh-NAY-zes) was trained in marketing, and closely studied consumer sentiment. To him, spirits provided what he called “accessible luxury” to customers — a dram of the good life even in an unstable economy.

Persons: Ivan Menezes, Johnnie Walker Scotch, Morgan, Menezes, ” Mr, Johnnie Walker Blue Organizations: Diageo, Yorker, New York Times Locations: London

☆ Are we on the brink of a corporate credit crisis?
▼ + stars: | 2023-02-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Economists at S&P Global Ratings forecast that speculative-grade (perceived to have a lower level of credit quality compared to more highly rated, investment-grade, companies) corporate default rates in the US and Europe will double this year alone. So are we on the brink of a corporate credit crisis? Before the Bell spoke with Ruth Yang, managing director and global head of thought leadership at S&P Global Ratings to discuss what lies ahead for the corporate credit market. Before the Bell: What’s your big picture view of the credit economy right now? There will be slower growth with thinner margins and that’s going to change how people look at their investment opportunities.

Since the pandemic, Diageo has benefited from people splurging on more expensive types of alcohol while staying home under lockdown. But Diageo's North America business, which accounts for nearly 30% of overall sales, reported organic sales growth of 3% in the six months ended Dec. 31 versus analyst estimates of over 6%. The company said it expected North American organic net sales growth to "continue to normalise through the second half of fiscal '23, compared to the double-digit growth in the prior period". OCCASIONAL TREATSStill, overall organic net sales rose 9.4% in the six months to Dec. 31, beating analyst forecasts for a 7.9% rise. Diageo's "premium-plus" brands - which are more expensive than brands such as Smirnoff vodka but under about 50 pounds ($61.92), drove 65% of its organic net sales growth, the company said.

The outlook and disappointing North American sales in the first-half overshadowed forecast-beating first-half sales thanks to price hikes and as more people drank premium spirits. But Diageo's North America business, which accounts for nearly 30% of overall sales, reported organic sales growth of 3% in the six months ended Dec. 31 versus analyst estimates of over 6%. The company said it expected North American organic net sales growth to "continue to normalise through the second half of fiscal '23, compared to the double-digit growth in the prior period". Still, overall organic net sales rose 9.4% in the six months to Dec. 31, beating analyst forecasts for a 7.9% rise. Diageo's "premium-plus" brands - which are more expensive than brands such as Smirnoff vodka but under about 50 pounds ($61.92), drove 65% of its organic net sales growth, the company said.

☆ Johnnie Walker maker Diageo tops sales estimates helped by premium brands
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] Bottles of Johnnie Walker whisky, a brand of Diageo, are seen for sale in Manhattan, New York City, U.S., May 20, 2022. REUTERS/Andrew KellyLONDON, Jan 26 (Reuters) - Diageo (DGE.L), the world's largest spirits maker, beat first-half sales forecasts on Thursday as it raised prices and more people drank premium spirits. The London-based company, which makes Tanqueray gin, Captain Morgan's rum and Ketel One vodka, said organic net sales rose 9.4% in the six months to December 31, beating analyst forecasts for a 7.9% rise. The growth reflected organic volume growth of 1.8%, indicting 7.6 percentage points of higher price growth. Diageo's "premium-plus" brands - which are more expensive than brands such as Smirnoff vodka but under about 50 pounds ($61.92), drove 65% of its organic net sales growth, the company said.

☆ Johnnie Walker-maker Diageo beats first-half sales estimates
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: +2 min

Johnnie Walker is a brand of Scotch whisky now owned by Diageo, which beat first-half sales forecasts. Diageo , the world's largest spirits maker, beat first-half sales forecasts on Thursday as it raised prices and more people drank premium spirits. The growth reflected organic volume growth of 1.8%, indicting 7.6 percentage points of higher price growth. "If you look at the consumer, the consumer is very savvy," Menezes told CNBC. Since the pandemic, Diageo has also benefited from people buying more expensive types of alcohol while staying home under lockdown.

☆ Crocs, Gatorade Fit, and Walmart-branded cream cheese are among the fastest-growing brands of 2022
▼ + stars: | 2022-12-08 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Morning Consult compiled a list of the fastest-growing brands of 2022. The top three brands included Meta, Crocs, and Beats by Dre. Morning Consult's report ranks the fastest-growing brands of 2022. Consumers were also more willing in 2021 to try new brands, Moquin said. Different age groups had different favorite brands.

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