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A Whiskey tasting station is seen at the Jack Daniel's distillery in Lynchburg, Tennessee May 10, 2011. Excluding items, Brown-Forman earned 48 cents per share, compared with a profit estimate of 53 cents per share, as per Refinitiv data. A 90-basis-point expansion in gross margin in the quarter was driven by a 250-basis-point benefit from higher pricing as well as a let up in supply-chain costs, Brown-Forman said on a post-earnings call. Its quarterly net sales rose 3%, to $1.04 billion, compared with analysts' average estimate of $1.05 billion. Still, Brown-Forman reaffirmed its annual target of organic net sales growth between 5% and 7% and said it expects demand trends to normalize after two years of strong growth.
Persons: Jack Daniel's, Martinne Geller, Brown, Forman, BFb.N, Jack, Juveria Tabassum, Pooja Desai Organizations: REUTERS, Reserve, U.S, Thomson Locations: Lynchburg , Tennessee, United States, U.S
Jack Daniel's maker Brown-Forman on Wednesday fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges and a significant inventory rebuild. Net sales for whiskey products decreased by 1%, led by the brands Woodford Reserve and Gentleman Jack. Sales for Jack Daniel's Tennessee Whiskey were flat, the company said, due to lower distributor inventories across the United States. Its New Mix RTD beverages delivered strong net sales growth of 52%, while its el Jimador tequila brand saw net sales grow by 27%. Reported advertising expense grew 19%, driven by the launch of its Jack Daniel's & Coca-Cola RTD item, increased investment in Jack Daniel's Tennessee Whiskey, and acquisitions.
Persons: Jack Daniel's, Brown, Forman, Jack, Jack Daniel's Tennessee, Lawson Whiting, Whiting, , Robert Hum Organizations: Woodford Reserve, Jack Daniel's Tennessee Whiskey Locations: United States, Kentucky, U.S
It is across the street from Big Spring Park and about five minutes from a public elementary school. The Woodford Reserve Distillery and Wild Turkey Distillery, popular stops on the Kentucky Bourbon Trail, are less than 15 minutes away by car. Driving to Lexington, Ky., takes half an hour; Louisville, Ky., is about an hour away. Size: 3,961 square feetPrice per square foot: $278Indoors: A wrought-iron fence separates the front of the property from the sidewalk. The front door opens into a foyer with hardwood floors and a staircase with original woodwork.
Persons: Anne Organizations: Historical Society, Big, Woodford Reserve Distillery, Distillery Locations: Versailles, Ky, Woodford, Kentucky, Lexington, Louisville, Cincinnati, Nashville
What’s happening: Never-married women earned just 92% of what never-married men did last year, according to the Wells Fargo report. Those wage gaps are “persistently disappointing,” ADP’s Chief Economist Nela Richardson told CNN on Thursday. Markets suffer: Companies with smaller gender pay gaps tend to be rewarded by their shareholders. “The gender pay gap is informing investment strategies,” wrote Refinitiv analysts in a recent report. “Our recent analysis shows that [shares of] companies with no gender pay gap outperform companies with pay gaps between male and female employees,” wrote Refinitiv.
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.
Kaylin Marcotte runs Jiggy Puzzles, which has sold more than 250,000 units in three years. She says word-of-mouth marketing — partnering with brands and customers — has helped it grow. I've always been a fan of word-of-mouth marketing for my small business. But it also created a powerful word-of-mouth marketing channel. Word-of-mouth marketing isn't necessarily the quickest or easiest win.
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