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Earnings

A 4% Drop in Revenue Leads LVMH Wines & Spirits Profit to Fall 9%

LVMH Moët Hennessy Louis Vuitton said first-half revenue for its Wines & Spirits units eased 4%. On an organic basis, Wines & Spirits revenue was down 3%. Profit from recurring Wines & Spirits operations was down 9%. It was a good half-year for the Champagne business, which recorded

Scheid Family Wines Revenue Fell 9% in 1st Quarter, Net Loss Widened

Scheid Family Wines reports for the fiscal first quarter total revenues were $14.4 million, down $1.5 million, a decrease of 9%. The decrease was driven by the Company's cased goods sales which decreased 16%, from $13 million to $10.9 million, and was offset by an

Scheid Sales Rise 6% in Year, But Firm Records a Loss

Scheid Vineyards Inc. said its sales rose 6% in the fiscal year ended Feb. 28 to $59.3 million. Despite the sales gain, the company booked a net loss of $2.228 million for the year. A year earlier the company had recorded a profit of $14.2 million, or

Brown-Forman Net Surged 36% in Year

Brown-Forman Corp. reports net income surged 36% to $207 million, or 43 cents a share as net sales for fiscal 2023, ended April 30, rose 8% to $4.2 billion(10% organic). Positive portfolio sales growth occurred across all geographic clusters and Travel Retail. Woodford Reserve sales were up

Treasury Wine Says Inflation Squeezing Demand, Shares Fall

Treasury Wine Estates said inflation is squeezing demand for commercial-grade wine and driving up packaging costs. TWE's stock immediately fell 8%. Conditions for commercial wine are particularly tought in Australia and the UK, the company said, adding it was beginning a review of its domestic supply chain.

Fresh Vine Wine Delays Filing Quarterly Earnings Report

In a filing with the Securities & Exchange Commission, Fresh Vine Wine said it needs additional time to complete and review its Quarterly Report on form 10-Q because of a "recent transition in the Company's management, including its principal executive officer, principal financial officer and financial

Molson Coors Sales Nearly Double, But Net Falls 52%

Molson Coors Beverage Co. reports sales increased 5.9% in the first quarter to $2.35 billion. Net income was $72.5 million, or 33 cents a share, a 52% drop from 151.5 million, or 70 cents a share. The company nearly doubled its bottom line on an adjusted