Pernod Ricard U.S. Sales Drop 14% Amid Global Whiskey Glut
Pernod Ricard, famous for its brands like Jameson Irish whiskey and Absolut Vodka, saw U.S. sales drop by 14% for the fiscal year that ended on June 30, while sales in China decreased by 19%. After CEO Alexandre Ricard mentioned that growth in America might be limited until 2029, the company's stock took a 6% hit. Looking ahead, Pernod expects organic net sales growth to fall between 3% and 6% for FY27 to FY29, mainly due to the current sluggishness in the U.S. market. On a positive note, Jameson did manage to grow by 9% in countries like India. The overall whiskey industry is facing difficulties, with companies like Jim Beam and Diageo making major cuts.
Key facts
- Pernod Ricard U.S. sales fell 14% in the year ending June 30.
- Chinese sales dropped 19%.
- Pernod's shares fell 6% after CEO Alexandre Ricard's comments.
- Pernod projects organic net sales growth close to lower end of +3% to +6% range over FY27 to FY29.
- Jameson sales rose 9% in markets like India.
- Jim Beam closed a major distilling campus.
- Diageo and Brown-Forman paused production at distilleries.
- MGP and Bardstown Bourbon Company scaled back production.
Entities
Artists
- Alexandre Ricard
- Jonah Flicker
Institutions
- Pernod Ricard
- Brown-Forman
- Jim Beam
- Diageo
- MGP
- Bardstown Bourbon Company
- Irish Distillers
- Midleton Distillery
- Reuters
- Irish Times
- Robb Report
Locations
- United States
- China
- India
- Scotland
- Las Vegas