Pernod Ricard Warns of Weak Sales in US and China
Pernod Ricard reported steep sales declines in China and the US while forecasting a prolonged downturn. The spirits maker now expects growth at the lower end of its target through 2029.
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PERNOD RICARD SA expects sales growth at the lower end of its target through 2029 after reporting steep revenue declines in United States and China during a late summer briefing. The France-based spirits maker saw shares fall 6% on Thursday. The drop highlights a multi-year downturn hitting major alcohol producers worldwide.
