John Morrissey serves pints of Guinness at a traditional Irish pub in Dublin on May 21, 2024, in Dublin, Ireland.
Shares of spirits giant Diageo tumbled more than 10% on Tuesday morning, after the Johnnie Walker-maker posted its first sales decline since the start of the pandemic.
The London-based company said organic net sales dropped 0.6% in the full-year to June 30, largely due to weakness in the Latin America and Caribbean region.
Reported net sales were down 1.4%.
"The situation in Latin America is concerning as it was the primary reason for the profit warning earlier in the year.
Persons:
John Morrissey, Johnnie Walker, Smirnoff, Captain Morgan, Don Julio, Tanqueray, Chris Beckett, Cheviot
Organizations:
Diageo, Guinness, Revenue
Locations:
Dublin, Ireland, London, America, Caribbean, North America, Europe