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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
Savoring Summer’s End at 5 Country Getaways
  + stars: | 2023-08-25 | by ( Stephanie Rosenbloom | ) www.nytimes.com   time to read: +1 min
Shuttered in 2018, it reopened this year after a renovation that included new buildings and a new name. You can choose from 67 rooms, four of which are restored cottages dating to the early 1900s. There are new guest rooms, each with a patio, terrace or sun porch, situated in structures called Guest Houses. Also new is the two-bedroom Courtyard cottage with a living room and private outdoor space where you can end the day beside an outdoor fireplace or in a hot tub. The Homestead cottage has two bedrooms and private outdoor space as well.
Persons: Felix Locations: Olivos, Calif, Santa Ynez
The Best New Places to Drink in New York This Fall
  + stars: | 2023-08-24 | by ( Robert Simonson | ) www.nytimes.com   time to read: +1 min
The Portrait BarA new cocktail bar inside the Fifth Avenue Hotel is inspired by London landmarks and decorated with an array of portraits, hence the name. The drinks program is by Darryl Chan, who for many years worked at Bar Pleiades on the Upper East Side. 250 Fifth Avenue (28th Street). 100 Second Avenue (Sixth Street). 640 Manhattan Avenue (Nassau Avenue), Greenpoint, Brooklyn.
Persons: Darryl Chan, Andrew Carmellini, Brandy Crusta, Kavé Pourzanjani, Ray Sakover, Shirley, Josh Vera, Janice Locations: London, Greenpoint, Nassau, Greenpoint , Brooklyn
In 2022, there were only about 1.4 million visitors, according to data provided by the government, still considerably below pre-pandemic levels. That’s why events like the Women’s World Cup are so important. Cities like Wellington and Auckland have catered to World Cup tourists by making public transportation free on game days for anyone with a match ticket. The extra effort has not gone unnoticed by tourists, especially those who have traveled to other World Cup events. Compared to the last Women’s World Cup in France, more businesses seem excited to welcome tourists, said US fan Carly Andler.
Persons: James Johnson, , ” Johnson, , Monchy, CNN’s Richard Quest, Iain Walker, Chow Tory, Chow Tory's, Tara Subramaniam, Carly Andler, Andler, we’ve Organizations: Wellington CNN — Soccer, Football Australia, Tourism, Zealand’s Ministry of Business Innovation, New Zealand, Air New Zealand, FIFA, CNN, New Zealand’s Football Ferns, Wellington Chocolate Factory, Wellington City Council Locations: Australia, New Zealand, Tourism New Zealand, New, Tourism Australia, Cities, Wellington, Auckland, Dunedin, Hamilton, United States, Costa Rica, Spanish, Swedish, Italy, Japan, Rosebud, Bundaberg, Zealand, France
Victoria's Secret launched a new campaign with supermodels Gisele Bündchen, Adriana Lima, and Candice Swanepoel. Their photos in Victoria's Secret catalogs made them household names — the brand even dubbed them "Angels" to further cement their place as modeling royalty. Critics on social media pointed out that the new Victoria's Secret campaign looks eerily similar, even down to the name: It's called "The Icon" while Kardashian's was "Icons." Swanepoel posted about her return to modeling for Victoria's Secret in an Instagram post. "What a wonderful sense of belonging to come home to my VS family for this Iconic campaign!"
Persons: supermodels Gisele Bündchen, Adriana Lima, Candice Swanepoel, Secret, Kim Kardashian, Gisele Bündchen, Kim Kardashian's, Kardashian, Skims, Swanepoel, Tyra Banks, Heidi Klum, Alessandra Ambrosio —, Kardashian's, Mikael Jansson, SKIMS, , Blakely Thornton, Ryan Reynolds, Pelton, Justin Long, Ed Razek, Naomi Campbell, Adut Akech, Hailey Bieber, Paloma Elsesser, Sui, Emily Ratajkowski Organizations: Service, Victoria, New York Times Locations: Wall, Silicon
And an ongoing EV price war started earlier this year by Tesla's Elon Musk, is forcing deeper losses as companies chase volume over profits in the EV sector. Ford recently adjusted its electric vehicle timeline to reflect this change in EV demand. After several years of rapid growth from eager early adopters to the electric vehicle segment, EV sellers are facing the first plateau. EV sales hit a high of nearly 6% in the US last year, bringing the segment closer to a predicted 7-10% tipping point. At this level of adoption, EV sales are expected to slow considerably.
Persons: Peter Rawlinson, Chris McNally, Evercore, Lucid, Tesla's Elon, Rivian, Ford Organizations: Morning, Tesla, Air EV, Ford, EV
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
Joshua is a 21-year-old from Berlin who lives in Glasgow, Scotland to attend school. We asked Joshua, a 21-year-old Berlin resident who attends the University of Glasgow, about his biggest spending categories and cost differences between Europe and America. Occupation: Student and university employeeMonthly income: £700 (about $900), plus a £200 (about $250) stipend from his parentsStudent debt: $0. Now I live in Glasgow, Scotland for school. What's the biggest cost difference you've noticed between Germany, Scotland, and the US?
Persons: Joshua, Gen Zers, I'm, we're, we'll, I've, she's Organizations: Service, University of Glasgow, Occupation, Student, University of Glasgow ., Student Enterprise, Tesco, Asda, European Union Locations: Berlin, Glasgow, Scotland, Wall, Silicon, Europe, America, Germany, Sainsbury's
The UK is experimenting with offering small businesses free rent to revitalize downtown districts. Several small towns in the UK have experimented with giving small businesses rent-free shop space over the last few years. Now it's vibrant, upbeat, colourful," Hope Dean, the owner of a plant shop that was one of the 10 businesses given free rent, told The Guardian. Some US cities have pursued similar downtown revitalization initiatives. Denver offered free rent and services valued at $20,000 to businesses willing to use empty space in the city's downtown, and San Francisco has offered free rent and grant money to pop-up businesses in its downtown.
Persons: Hope Dean, We're, Matt Soffair Organizations: Service, Legal, General Investment Management, Guardian, Times, Westminster City Council, Oxford, BBC, Denver Locations: Poole, Wall, Silicon, American, Westminster, London, San Francisco
President Joe Biden will create a national monument in honor of Emmett Till and Mamie Till-Mobley. Till's murder in Mississippi helped spark the civil-rights movement of the 1950s and 1960s. The monument locations will consist of a site in Chicago and two sites in rural Mississippi. Bryant and Milam then tortured and lynched the teenager before throwing his body into the Tallahatchie River. In March 2022, Biden signed into law the Emmett Till Anti-Lynching Act, which made lynching a federal hate crime for the first time in US history.
Persons: Joe Biden, Emmett Till, Mamie Till, Mobley, Till's, Biden, Emmett Till's, Carolyn Bryant Donham, Donham, Roy Bryant, Bryant, Till, Moses Wright, Milam, Pell Grant Organizations: Service, White, Black, Roberts Temple Church of God, Supreme Locations: Mississippi, Chicago, Wall, Silicon, The Illinois, Bronzeville, The Mississippi, Tallahatchie, Sumner
It's why top researchers are looking to the past as a guide to predict how generative AI could affect workers' jobs in the years and decades to come. "It's possible that in the end, we get better jobs, but in the short term, there's a lot of disruption," Mollick said. But Raymond warned that AI could produce some less-desirable outcomes for customer-service workers, particularly if customer-support chatbots become much more capable and advanced. The extent to which AI displaces jobs will depend on how quickly it scales what Mollick calls the "three levels" of work: tasks, jobs, and systems. Instead, what I would be thinking about is: How do you figure out how to use it to do your job better?"
Persons: Ethan Mollick, Mollick, Carl Benedikt Frey —, Frey, Lindsey Raymond —, , Raymond, that's, chatbots, Oded, There's Organizations: Service, University of Pennsylvania's Wharton School, MIT Sloan School of Management, White, National Bureau of Economic Research Locations: Wall, Silicon, Oxford, COVID, Columbia
A Perfect Weekend in Telluride
  + stars: | 2023-07-13 | by ( Cindy Hirschfeld | ) www.nytimes.com   time to read: +2 min
Post-adventure, go for the summer version of après-ski at a trio of spots around Mountain Village. Telluride Brewing Company pours its refreshing I.P.A.s and other ales at a brewpub in the Hotel Madeline building (the brewery’s original tap room just west of Telluride remains a hub for locals who stream in after biking and kayaking.) Where to StayThe Telluride area has no shortage of luxe hotels, with the biggest concentration in Mountain Village. On the west side of town, the Hotel Telluride (rooms from $369) is a reliable option, with friendly service and a relaxed vibe. If you have a car and a limited budget, consider the Bivvi Hostel Telluride, open since 2020 in Placerville, about 16 miles down the valley.
Persons: Franz Klammer, Luz, margarita, Joy Itthithepphana, Bryan Woody, Cheyenne Organizations: Company, Telluride Brewing Company, Madeline, Hotel, Telluride Locations: Village, Telluride, La, luxe, Bernard, Hotel Telluride, Placerville
The Martini Has Lost Its Mind
  + stars: | 2023-07-13 | by ( Becky Hughes | ) www.nytimes.com   time to read: 1 min
Consider the paradoxical thought experiment known as the Ship of Theseus: If Athenians removed and replaced every plank of Theseus’s ship so that none of the original wood remained, would it still be Theseus’s ship? Alternatively, take a dirty martini: gin, vermouth, olive brine and a garnish. Is it still a dirty martini? Jazzton Rodriguez, the creator of what he calls the chicken soup martini, believes it is. “People are starting to explore what the dirty martini can be, as a template,” said Mr. Rodriguez, who co-writes the blog Very Good Drinks.
Persons: Jazzton Rodriguez, , Rodriguez Locations: bouillon, Instagram
CNN —Jack in the Box announced it opened a pop-up restaurant themed after fellow California legend Snoop Dogg – and no, gin and juice will not be on the menu. Jack in the Box announced the opening of a limited-time restaurant location as part of a partnership with rapper Snoop Dogg. Snoop Dogg is known for his appreciation of the vehicles, particularly the Cadillac DeVille. The pop-up joint isn’t the first time the rapper has teamed up with Jack in the Box. “He’s a true fan of the brand and we wanted to welcome him back,” said Tenenbaum, who could not confirm to CNN whether Snoop Dogg would be stopping by the pop-up restaurant.
Persons: Jack, Snoop Dogg, It’s, Snoop, Mijal Tenenbaum, “ Jack, , “ Snoop, Tiny Tacos, Curly Fries, ” Tenenbaum, , Tenenbaum Organizations: CNN, Long Beach Locations: California, Inglewood, San Diego, Snoop’s, Los Angeles
AI's impact on the job marketRob Arnott"Every important disruption since the start of the industrial revolution has cost millions of people jobs. Millions of jobs will be lost to those who know how to use AI. "The implications of generative AI on the labor market will be one of upheaval and one of escalating job uncertainty. Are AI stocks in a bubble? Rosenberg"Advancements in AI technology, and its knock-on effects on profitability and productivity, is a legitimate investment thesis.
Persons: David Rosenberg, Rob Arnott, Savita Subramanian, Cam Harvey, Jawad Mian, Jobs, Merrill Lynch, aren't, Rosenberg, Harvey, Arnott, Brad Cornell, Aswath, There's, that's, Savita, , capex, Mian Organizations: Industries, Investors, Research, Rosenberg Research, North, Bank of America Securities, Duke University, Microsoft, Nvidia, Google, Tech, Software, Services, Professional Services, IT Services Locations: North American, ChatGPT, Asia, Taiwan
Rossi sees Reynolds' winning touch boosting Alpine
  + stars: | 2023-06-27 | by ( Alan Baldwin | ) www.reuters.com   time to read: +3 min
ENSTONE, England, June 27 (Reuters) - Renault-owned Alpine believe Hollywood actor Ryan Reynolds has the Midas Touch to help get the team back to the top in Formula One. "Most of you were probably expecting Ryan Reynolds," Otro Capital founder and partner Alec Scheiner jokingly told analysts at Alpine's Enstone factory for a strategy presentation. Alpine chief executive Laurent Rossi pointed to Reynolds' track record in business. Rossi said the investors, who have paid 200 million euros ($218.88 million), would develop revenues through merchandising, licensing and hospitality. The deal values Alpine Racing at around $900 million and Rossi said the numbers were only going up.
Persons: Ryan Reynolds, Reynolds, Rob McElhenney, Alec Scheiner, Laurent Rossi, Rossi, Otro, Goldman Sachs, Gerry Cardinale, RedBird, Scheiner, Luca de Meo, Alan Baldwin, Christian Radnedge Organizations: Renault, Formula, Wrexham soccer, Otro Capital, RedBird Capital Partners, Aviation, Mobile US, Ka'ena Corp, Mint Mobile, Diageo, Gin, Wrexham, English Football League, RedBird, Fenway Sports Group, Premier League, Liverpool, Boston Red Sox baseball, Toulouse, Milan, Liberty Media, Thomson Locations: ENSTONE, England, Wrexham, RedBird, Americas, Las Vegas, U.S
A Stir-Fry to Convert Green Bell Pepper Skeptics
  + stars: | 2023-06-22 | by ( Eric Kim | ) www.nytimes.com   time to read: +1 min
Next to its older siblings in blazing red, orange and yellow, the green bell pepper has never had the best reputation. But, if you’re trying to capture the edge of bitterness, where savory and sweet intermingle, then the green pepper might be your ideal implement. Perhaps the one dish where the diner must confront the unripe pepper head-on is pepper steak. For many Americans, what comes to mind is the saucy beef stir-fry seen on takeout menus and strewn with crunchy panels of Christmassy red and green bell peppers. The Chinese American pepper steak, she said, “feels like a culmination of all of those influences.” The Leungs — Sarah, Kaitlin, Bill and Judy — published their first proper pepper steak recipe only recently, in April, using oyster sauce, chicken stock and red bell peppers in addition to the green.
Persons: Sarah Leung, , Sarah, Kaitlin, Judy — Locations: Louisiana, Sichuan, Fujian
CNN —Did someone say Wingardium Leviosa? “Harry Potter” fans are asking whether Emma Watson’s new dress may be the result of some Hogwarts wizardry. The star, who played Hermione Granger in the blockbuster movies, posted a picture of herself wearing the gravity-defying sky-blue gown on Instagram on Monday. The dress is not ‘hanging from her ears’ or ‘Photoshopped’, the dress is designed to have ‘bones’, it’s just couture. Renais is our love letter to Chablis; is carbon-neutral, lovingly made from upcycled grapes.
Persons: Harry Potter ”, Emma Watson’s, Hermione Granger, Loewe, Carolina__emme, , ” Watson, Duchess, Alex, Watson, , Emma ” Organizations: CNN, Twitter Locations: Spanish, Ginspiration, Chablis
Alcoholic beverage company Diageo will see limited upsides ahead, says Goldman Sachs. "With muted growth in the US, we see limited positive catalysts for Diageo and thus limited scope for earnings upgrades for the group," said Nicolaï. To be sure, he noted that if the company's U.S. market share gains accelerated, the company could strongly outperform the rest of the market. Goldman expects negative worsening volume trends and a weaker pricing outlook for U.S. spirits wholesalers over the next six months. The firm noted that "the secular premiumization trend is expected to be on hold after strong gains in 2020–2022."
Persons: Goldman Sachs, Oliver Nicolaï, Nicolaï, Goldman, — CNBC's Michael Bloom Organizations: Diageo Locations: U.S, FY23e
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
It’s called “For a 30-Year-Old Virgin, It’s Now or Never.”The candles were lit. As we looked over the menu, he mentioned that he didn’t know what a poached egg was. And I didn’t want to die a virgin. Given how things turned out, am I upset that I lost my virginity in a rush to a guy who didn’t matter? Being a 30-year-old virgin is not normal.
Persons: I’ve, I’m Anna Martin, ” Clare Almand, hadn’t, Here’s Clare, It’s, “ I’ve, , gaunt, Missy Elliott’s, bloomer, it’s, pining, OkCupid, cardiologists, oregano, who’s Organizations: New York Times Locations: Los Angeles, Culver City, Brussels
Recent data shows that China is also contending with worse-than-expected consumer spending, slowing manufacturing and weak home sales. What it means for markets: US-based companies doing business in China stand to lose if the economy continues on a downward trajectory. Qualcomm (QCOM), with a 67% exposure rate to China, issued disappointing forward guidance during earnings last month, citing China’s slow recovery. JD.com (JD), one of the largest Chinese companies trading in the United States, has fallen by nearly 36% this year. The air purifier market is poised to grow as climate change increases air pollution and exacerbates breathing difficulties.
Persons: That’s, China —, Capvision, China Nicholas Burns, , Goldman Sachs, Dow, JD.com, Morgan Stanley, Goldman, Ayaz Ebrahim, CARR, Johnson, Ivan Menezes, Diageo, Menezes ’, Menezes, King Charles III, Debra Crew, Johnnie Walker, Ivan, Javier Ferrán, “ Ivan Organizations: CNN Business, Bell, New York CNN, International Monetary Fund, Factories, Bain, Group, Micron Technology, Nasdaq, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, China . Companies, Dragon, Goldman Sachs Group, Nomura, Barclays, JPMorgan, Asia Pacific, Bloomberg, Google, Carrier Global, Johnson Controls, Economic Co, Diageo, India, Business, , Whisky Association, Northwestern University’s Kellogg School of Management Locations: New York, China, Washington, Beijing, United States, Hong Kong, Dragon China, Canada, Pune, India
Diageo's long-time boss Ivan Menezes dies after brief illness
  + stars: | 2023-06-07 | by ( ) www.reuters.com   time to read: +2 min
June 7 (Reuters) - Diageo (DGE.L) on Wednesday said long-time boss Ivan Menezes, who held the CEO role at the world's biggest spirits company for 10 years, had died after a brief illness. The 63-year-old, who was set to retire at the end of this month, was in hospital receiving treatment for conditions including a stomach ulcer, the Johnnie Walker whisky maker announced this week. British-American national Menezes, born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. The executive, who was behind the "Keep Walking" campaign for Johnnie Walker when he was marketing head, previously held roles at Whirlpool and Nestle. Menezes, who was awarded a knighthood this year, is survived by his wife and two children.
Persons: Ivan Menezes, Johnnie Walker, Debra, Menezes, Ivan, Javier Ferrán, Julio, Arvind Subramanian, Subramanian, Menzes, Eva Mathews, Sinchita Mitra, Dhanya Skariachan, Sherry Jacob, Phillips, David Evans Organizations: Diageo, American, Guinness, Grand Metropolitan, Whirlpool, Nestle, Government of, Indian Institute of Management, Thomson Locations: Indian, Pune, Government of India, Ahmedabad, India, Bengaluru
June 7 (Reuters) - Diageo (DGE.L) said on Wednesday long-time boss Ivan Menezes has passed away following a brief illness. The announcement comes after the world's biggest spirits company on Monday said CEO-designate Debra Crew would assume the top role on an interim basis immediately as Menezes was under medical treatment. British-American national Menezes, 63, who was born in the Indian city of Pune, joined Diageo after its formation through the merger of Guinness and Grand Metropolitan in 1997. Sales at Diageo, the maker of Johnnie Walker whisky, Tanqueray gin and Don Julio tequila, surged under Menezes' leadership, and he steered the company through multiple brand acquisitions as well as a major sustainability overhaul. Reporting by Eva Mathews in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
Persons: Ivan Menezes, Debra, Menezes, Johnnie Walker, Julio, Eva Mathews, Sherry Jacob, Phillips Organizations: Diageo, American, Guinness, Grand Metropolitan, Thomson Locations: Indian, Pune, Bengaluru
A second flight carrying roughly 20 migrants landed in Sacramento on Monday. Monday's revelation comes after 16 migrants from Venezuela and Colombia arrived by plane on Friday and were dropped off at a Catholic church. Ron DeSantis of Florida, who is also a 2024 presidential candidate, has yet to speak publicly about the matter. He and California Attorney General Rob Bonta have already said they think DeSantis is responsible for the flights. On Monday, a sheriff in Texas recommended charges be brought in connection to the Martha's Vineyard flights.
Persons: Ron DeSantis, , general's, DeSantis, seethe, Charlie Crist, Gavin Newsom, Rob Bonta, Bonta, Karine Jean, Pierre, Newsom, Joe Biden's Organizations: Service, California Department of Justice, Vertol Systems Company, Republican Gov, Democratic, California Gov, Twitter, CNN, White, Democratic Party Locations: Sacramento, Sacramento , California, Florida, California, Venezuela, Colombia, Al Paso , Texas, San Antonio , Texas, Vineyard , Massachusetts, Texas
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