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LONDON, Sept 6 (Reuters) - As they endeavour to meet lofty sustainability goals, companies from Japan's Asahi (3333.T) to retailer John Lewis face challenges like confusion among suppliers, tough legislation, and friction with top management over costs, executives said. But the upfront cost of investments needed to curb emissions can cause friction within companies. WORKING TOGETHERWhile regulation plays a role in helping companies meet their goals, some feel it also acts as a constraint. Managing suppliers plays a major role in companies meeting sustainability goals but doing so can prove difficult. Some companies are going so far as to work with rivals to exchange best practices on issues such as decarbonising their value chains.
Persons: John Lewis, Preeti Srivastav, Mark Chadwick, Marija Rompani, Asahi's Srivastav, they're, Andy Griffiths, we're, Jay Doyle, Richa Naidu, Sharon Singleton Organizations: Asahi, Asahi Europe, International, Reuters IMPACT, Diageo, ITV's, Thomson Locations: London, British
Executive Producer Reese Witherspoon attends a premiere for the television series "The Last Thing He Told Me" in Los Angeles, U.S, April 13, 2023. REUTERS/Mario Anzuoni Acquire Licensing RightsTORONTO, Sept 7 (Reuters Breakingviews) - Reese Witherspoon is putting her star power – and business acumen – to the takeover test again. Private equity firm Consortium Brand Partners said on Wednesday it had bought 70% of Witherspoon’s “steeped in Southern charm” apparel company for an undisclosed sum. For all the attention A-listers now command in deal-making, however, the financial stars often don’t align. Follow @sharonlam_ on XCONTEXT NEWSPrivate equity firm Consortium Brand Partners said on Sept. 6 that it had acquired a 70% stake in Draper James, the fashion and lifestyle brand started by Hollywood actor Reese Witherspoon.
Persons: Reese Witherspoon, Mario Anzuoni, , Blackstone, Draper James, George Clooney’s, Dre’s, Kylie Jenner, Kim Kardashian, Jessica Simpson, Jessica Alba, , Jeffrey Goldfarb, Aditya Sriwatsav Organizations: REUTERS, Rights, Reuters, Sunshine, Brand Partners, Diageo, Apple, Bloomberg, Honest Company, Jay, Hollywood, Thomson Locations: Los Angeles, U.S, North America, Coty, Delaware, Draper
Pernod Ricard shares face a lengthy dry spell
  + stars: | 2023-08-31 | by ( ) www.reuters.com   time to read: +2 min
A glass of cognac is pictured on a bar in the Manhattan borough of New York City, November 13, 2015. REUTERS/Mike Segar Acquire Licensing RightsLONDON, Aug 31 (Reuters Breakingviews) - Pernod Ricard (PERP.PA) shareholders have few reasons to cheer. The owner of Mumm champagne and Absolut Vodka said that China’s property crunch was making wholesalers cautious and keeping punters out of nightclubs. China has been a key source of growth for drink-makers: helped by Asia, Pernod Ricard’s sales outside of Europe and the Americas grew 17% in 2023. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Mike Segar, Pernod Ricard, Mumm, Remy Cointreau, Aimee Donnellan, Mukesh Ambani’s, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Investors, Pernod, Diageo, X, Thomson Locations: Manhattan, New York City, U.S, China, Asia, Europe, Americas
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
Adtech firms are racing to grab more of the retail media business, expected to be worth $130B. E-commerce startup MikMak has acquired the shoppable media and brand analytics arm of rival ChannelAdvisor for an undisclosed amount. With the new employees from ChannelAdvisor, MikMak will have 175 staffers. In buying part of ChannelAdvisor, MikMak inherits analytics that advertisers want to justify increasing ad spend with retailers. As part of the deal, MikMak and ChannelAdvisor will cross-sell their products.
Persons: ChannelAdvisor, Rachel Tipograph, Tipograph, MikMak, Morgan Stanley Organizations: Walmart, MikMak, Diageo, Hershey's, Tech, ChannelAdvisor Locations: ChannelAdvisor
Bottles of Coca-Cola are seen at a Carrefour Hypermarket store in Montreuil, near Paris, France, February 5, 2018. REUTERS/Regis Duvignau/File PhotoAug 9 (Reuters) - Bottler Coca-Cola HBC (CCH.L) beat half-year profit expectations and lifted its annual revenue target on Wednesday, supported by strong sales and higher prices of its drinks. Organic net sales revenue per case expanded by 19.0%, beating analysts' forecast of 17.4% in a poll compiled by the company. It still expects the negative impact from foreign currency exchange on the group's comparable operating profit to be between 50 million and 60 million euros ($55 million and $66 million) this year. HBC reported a comparable operating profit of 560.7 million euros for the six months through June, up 21.2% from a year earlier.
Persons: Regis, Zoran Bogdanovic, Radhika Anilkumar, Milla Nissi Organizations: Carrefour, REUTERS, Cola HBC, HBC, Analysts, Thomson Locations: Montreuil, Paris, France, Switzerland, Nigeria, Bengaluru
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/diageo-dge-fy-earnings-report-2023-85f7701
Persons: Dow Jones Organizations: diageo, dge
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiageo CEO says consumers are continuing to spend despite a difficult macro environmentDebra Crew, CEO of Diageo, discusses Diageo's earnings and why demand for beverages has not dropped.
Persons: Crew Organizations: Diageo
European markets open lower ahead of slew of earnings
  + stars: | 2023-08-01 | by ( Karen Gilchrist | ) www.cnbc.com   time to read: +1 min
LONDON — European markets opened lower on Tuesday as investors look ahead to a busy week of earnings after logging a winning month in July. The Stoxx 600 opened down 0.1%, with all major bourses and the majority of sectors trading in negative territory. Stateside, U.S. futures traded near the flatline after wrapping up a winning earnings month. Back in Europe, earnings are due from Euroapi, Uniper, Daimler Truck, DHL Deutsche Post, Covestro, BP, HSBC, Travis Perkins and Diageo. Euro zone unemployment data will also be posted.
Persons: Dow, Travis Perkins Organizations: P Global, Nasdaq, Daimler Truck, DHL Deutsche Post, BP, HSBC, Diageo Locations: Asia, Pacific, Europe, Euroapi, Covestro
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
A look at the day ahead in European and global markets from Kevin Buckland. The 'Goldilocks' view that equity investors are taking of the global economy continued into August, as a benchmark of Asian stocks hovered around Monday's 16-month highs. Signs of a peak for European consumer inflation to start the week echoed the narrative in the U.S., where optimism for a soft landing continues to grow. And the Bank of England decision on Thursday could mar the peak rates story for the world's major central banks. The PMI parade continues through the day, with numbers from the euro zone and many of its members, including Germany, as well as from the UK and the U.S.
Persons: Kevin Buckland, Muralikumar Organizations: United, Bank of, PMI, BP, Diageo, Caterpillar, PMIs, U.S ., Italy U.S, ISM, Uniper, Daimler, Deutsche Post U.S, Uber, Pfizer, Merck, Starbucks, AMD, Thomson Locations: U.S, United States, Bank of England, Beijing, Germany, Europe, Sweden, Spain, Italy, France, Tokyo
Ad verification company DoubleVerify plans to acquire adtech firm Scibids for around $125 million. It intends to use Scibids' AI expertise to help advertisers better target and optimize ad campaigns. DoubleVerify, the publicly-listed ad verification company, has entered into an agreement to acquire AI-powered adtech firm Scibids in a cash and stock deal valued at $125 million. The product matches DoubleVerify's media quality and ad performance data with Scibids' AI algorithms to let advertisers improve the performance of their campaigns. Around $66 million of the Scibids purchase price will be paid in cash with the remainder in DoubleVerify common stock.
Persons: DoubleVerify, Mark Zagorski, Zagorski, Scibids, Brian Andersen, Dick Filippini, Mark Greenbaum Organizations: Diageo, Dell, Fortune, Microsoft, Allianz, Spotify, LUMA Partners Locations: Paris, France, DoubleVerify, adtech
JPMorgan listed a number of global sectors it says have cheap valuations and "overweight" ratings — referring to the industries it expects to outperform over the next six to 12 months. In a July 3 research note to investors, it picked European telecoms as a "cheap" sector that it is overweight on. In its European "value" basket, telecoms companies included Vodafone and Nokia , while its European "growth" basket included Dutch firm KPN . Energy stocks in JPMorgan's European value basket included Repsol and Siemens Energy , and it included Finnish oil refiner Neste and Norway-based Equinor in its European growth basket. Staples in its European value basket included British grocer Tesco and Swiss chocolate company Lindt & Spruengli .
Persons: Mislav Matejka, Nephew, — CNBC's Michael Bloom Organizations: JPMorgan, Vodafone, Nokia, Energy, Siemens Energy, Staples, Tesco, Banks, WPP, Diageo, GSK, Smith, Prudential, Standard Chartered Locations: Norway, Swiss
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New York CNN —Spirits maker Diageo has cut ties with Sean “Diddy” Combs, ending a lucrative 15-year partnership that recently culminated in a racial discrimination lawsuit. The music mogul charged that Diageo had neglected and underpromoted his DeLeón tequila, dismissing it as an “urban” product in its marketing, in a suit filed last month. Diageo responded that he has “amassed nearly $1 billion dollars” from the partnership. Diageo and Combs have partnered on Ciroc vodka since 2007. In 2013, Combs bought DeLeón and formed a joint venture with Diageo for the high-end tequila.
Persons: Sean “ Diddy ” Combs, Johnnie Walker, Diddy’s, Diddy, Diageo, Don Julio, George Clooney, , Combs, Martha Stewart, DEO, , they’ve, John Hueston, Diageo “, ” Hueston, Josh Gerben, it’s “, ” Gerben Organizations: New, New York CNN, Diageo, CNN, Diageo “ kneecapped Locations: New York, London
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
CMO Insider is the place for marketing leaders to share, commiserate, and convene. Welcome to CMO Insider, our new, enduring platform for marketing leaders to learn, share, and network. I want to tell you what to expect from this destination, and how marketing leaders can get involved. I tell you all this because it goes to the heart of what we want to do with CMO Insider. Regular readers of Insider know that we engage with our audience through personal and first-person storytelling.
Persons: Raja Rajamannar, Cristina Diezhandino, Jeff Goodby, Silverstein, Jasmine Enberg, Ziad Ahmed, Auli'i Cravalho, Ahmed, Cravalho Organizations: Cannes Lions International, Creativity, Cannes Lions, Mastercard, Diageo, Partners, Insider Intelligence, JUV Consulting Locations: verticals
Insider convened a panel of leaders from Diageo, Mastercard, and Goodby, Silverstein & Partners at Cannes Lions. The speakers said it's important to understand your brand's context in order to decide what purpose initiatives it should align with. Marketing leaders were urged not to let external pressures — like those recently faced by Bud Light and Target — keep them from taking risks and aligning with purpose. Goodby spoke about how important it is to understand the brand "context" when creating these kinds of campaigns. "Every brand has a context ... and the context of your brand has to be taken into account," he said.
Persons: Bud Light, Raja Rajamannar, Cristina Diezhandino, Jeff Goodby, Silverstein, Jasmine Enberg, Joi, Marie McKenzie, McKenzie, Gen Z, Diageo's Diezhandino, Goodby, Rajamannar, Intelligence's Enberg, Enberg Organizations: Diageo, Mastercard, Silverstein, Partners, Cannes Lions, Morning, Cannes Lions International, Insider Intelligence, BMO Locations: Spain
Some big advertisers want to know exactly when their agencies are using generative AI. And in its current form, generative AI can create derivative content. And WPP ad agency Ogilvy is advocating for advertisers and social media platforms to disclose the use generative AI in influencer campaigns, The Financial Times reported. "You need to sit down with your agency and ask how they are using generative AI." He said he's in active conversations with the heads of all the agencies the alcohol giant works with about how they are experimenting with generative AI tools.
Persons: Reed Smith, Ruben Schreurs, Schreurs, — Andrew Robertson, , Ogilvy, Keri Bruce, Bruce, L'Oréal, we've, Asmita Dubey, Edward Pilkington, Lesley Klein Organizations: BBDO, Ad, WPP, Financial Times, of National, Diageo, Diageo North Locations: Diageo North America
Islay’s single malt is known for its salty and smoky flavors, that transport you to the wild and windswept island. Part of the reason is that when it comes to an Islay single malt, the place and the taste are so deeply intertwined. The Glenmorangie CompanyIslay’s whisky industry has not always been a boon for the island. Islay has a population of around 3,000 people -- most are connected to the whisky industry. “Traditions are things that are handed down from one generation to another.”Everybody’s connected to the whisky industry.” Islay Heads, general manager at Kilchoman DistilleryLike most people on Islay, Heads has strong links to the spirit.
Persons: Distillery Jackie Thomson, , Thompson, , Jackie Thomson, Louis Vuitton Moët Hennessy, Kilchoman, Ardnahoe, Port Ellen, NELL LEWIS, Anthony Wills, Wills, Kilchoman’s, Blair Bowman, Bowman, , Islay Organizations: CNN, Distillery, Tokyo Philharmonic Orchestra, Whisky Association, Asia –, Diageo, Louis, Islay, Kilchoman, Tourism Locations: Islay, Scotland’s, Kennacraig, Glasgow, Ardbeg, Australia, Ukraine, Netherlands, Germany, Denmark, Taiwan, Asia, Port, Scotland, Aberdeen Angus, Kilchoman, Machir
Jason Koerner | Getty ImagesCHICAGO — The spirits industry is overcoming economic headwinds to meet changing consumer preferences as it chips away at the dominance of beer. Despite supply chain issues and high inflation, the beverage alcohol industry has a lot to toast to these days, said Chris Swonger, president and CEO of DISCUS. "This is a great American success story," Swonger said of the industry's market share supremacy. As the spirits industry works to maintain its top spot this year amid fears of a recession, here are some key trends industry leaders who spoke to CNBC see shaping the business today. The company runs incubator and accelerator programs to develop Black talent within the spirits industry.
Persons: Casamigos, Alo, Jason Koerner, Beer, Chris Swonger, Swonger, We're, George Clooney, Mark Wahlberg, Wahlberg, Aron Marquez, Ryan Reynolds, Sean, Diddy, Combs, Kendall Jenner, Dwayne Johnson, Michael Jordan, David Beckham, it's, Patrick Shorb, Molson Coors, Tobin Ludwig, Pinkard Organizations: Alo Miami, Getty, CHICAGO, CNBC, Diageo, Chicago, Brands, Heineken, Anheuser, Busch InBev, Molson, Hella, Black Locations: Miami, United States, Chicago, Pennsylvania
Bernstein reiterates Target as outperform Bernstein said investors should buy the weakness in Target shares. UBS reiterates Chipotle as buy UBS said the Mexican chain is "well positioned w/ drivers to support transaction and sales growth." RBC reiterates Tesla as outperform RBC raised its price target to $305 per share from $212 and said it's bullish on Tesla's autonomy future. " TD Cowen reiterates Netflix as outperform TD Cowen raised its price target on the stock to $500 per share from $440 and says it's well-positioned. UBS reiterates Chevron as buy UBS said it sees "balance sheet strength & dividend growth" for Chevron.
Persons: Evercore, it's bullish, Emerson, Bernstein, Mizuho, Coinbase, Moody's, Guggenheim, McDonald's, Chipotle, Morgan Stanley, Goldman Sachs, Goldman, Wells, Wells Fargo, Tesla, it's, Oppenheimer, SoFi, Uber, Jefferies, TD Cowen, NFLX, Cowen, Stifel Organizations: ISI, Energy & Materials, Livent, HSBC, Emerson, " Bank of America, P, Bank of America, Citi, American Express Citi, American, Citi Credit Card, Travel & Entertainment, RBC, Nvidia, UBS, Mobile, Diageo, Spirits, Deutsche Bank, JPMorgan, Microsoft, Netflix, Corning, Chevron, Meta, DR Locations: Mexican, Allegiant, Edgewater
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
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
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