Pernod Ricard Net Plunged 17% (-5.2% Organic) as Sales Fell 14.2% (Organic -3.9%)

If it wasn't for the U.S. and China, Fiscal 2026 would almost have been a decent year. But U.S. sales fell 14% and China plunged 19% and that meant Pernod Ricard's organic sales eased 3.9% (reported -14.2%). Excluding the U.S. and China, the company's organic net sales actually rose 0.5%.

In the Americas, the problem was the U.S., which was down 14%. The company attributed the decline to a spirits market slowdown with economic moderation and subdued consumer confidence.

In terms of brand performance, Jameson declined in the low-single-digits globally. Martell declined sharply globally, Absolut declined in low-single digits. The Scotch portfolio proved to be resilient the company said. Ballantine's grew in low-single-digits and Chivas Regal was broadly stable.

The company's stategic local brands slid 2%, with Screwball declining in the U.S. but growing in Rest of World. RTDs were up 12% with dtrong growth across Canada, Australia and Western Europe.

In terms of the outlook for Fiscal 2027, Pernod Ricard said it expected its sales to be broadly stable for the full year, but with declines in the U.S. and China. Undeerlying trends are expected to improve in China