From BigGo Finance · BigGo Finance · · 50s
Rémy Cointreau Shares Drop After Q2 Sales Beat
Rémy Cointreau shares fell 5% despite Q2 sales beating forecasts on Chinese cognac demand.
In brief
Rémy Cointreau shares fell 5% despite Q2 sales beating forecasts on Chinese cognac demand. Rémy Cointreau shares dropped 5% after reporting Q2 organic sales growth of 4.2% to €280.1 million, driven by Chinese cognac demand. Originally reported by BigGo Finance.
Q2 Sales Beat
Rémy Cointreau reported second-quarter organic sales rose 4.2% to €280.1 million, beating market consensus of 3.6% growth.
Chinese Cognac Demand
Accelerating shipments to China ahead of Mid-Autumn Festival drove cognac division up 12.4%.
Liqueurs Division Slump
Liqueurs and spirits division fell 7.4% amid U.S. inventory reductions.
Tariff Impact Cut
Full-year tariff impact revised down to €5 million from €20 million due to U.S. tariff reductions.
Shares Fall 5%
Shares dropped 5% on concerns about the durability of the sales recovery.
The big picture
Rémy Cointreau shares dropped 5% after reporting Q2 organic sales growth of 4.2% to €280.1 million, driven by Chinese cognac demand.
