That has forced Remy Cointreau, whose stock has fallen 50% for the year, to slash its full-year guidance and expects another year of double-digit declines in sales.
The declines are a “normalization” within the industry, with alcohol sales nearing their pre-Covid levels, according to Marten Lodewijks, IWSR’s president for the US division.
Cheaper private labels have had a boon in sales, mirroring a larger trend of customers seeking more affordable options in all aspects of their life.
Aldi’s lineup is growing double digits in sales, bucking the broader industry trends of declines, Arlin Zajmi, director of national buying for adult beverages, told CNN.
Aldi has seen its wine and beer sales soar.
Persons:
Remy Cointreau, Pernod Ricard, Jose Cuervo, Proximo, ” Lisa Hawkins, ”, Luca Marotta, Remy Cointreau’s, Jameson, Kahula, Hélène de Tissot, Marten Lodewijks, bottlers, Arlin Zajmi, Scott Olson, it’s, ” Zajmi, ” Bryan Roth
Organizations:
New, New York CNN, Anheuser, Busch, CNN, Spirits, Consumers, Aldi
Locations:
New York, United States