Pulse of current economic conditions? Just ask booze makers....
Brown-Forman maker of Jack Daniel’s CFO: “We know it’s highly volatile, and “None of us can predict what’s going on.”
Full-year sales were down 5%, and fell 7% in in the fourth quarter. Net income was down 15% for the full fiscal year and plunged 45% in the company's fourth quarter in April.
The company believes the market volatility will “create sustained levels of consumer uncertainty, which we believe will lead to another year of below historical total distilled spirits trends,” she said. https://apnews.com/article/brownforman-earnings-tariffs-consumer-spending-2b36a2efc7334fc2ec1ed0eab2604252 #Alcohol #Booze #Economy #JackDaniels #BrownForman #Tariffs
