Sept 2 (Reuters) – Jack Daniel’s maker Brown-Forman missed first-quarter sales estimates on Wednesday, pointing to softer demand as inflation-hit consumers pull back on expensive spirits and younger generations increasingly moderate alcohol consumption.
The company posted quarterly sales decline of 1% to $911 million, compared with analysts’ average estimate of $914.9 million, according to data compiled by LSEG.
(Reporting by Shania S Thomas in Bengaluru; Editing by Shilpi Majumdar)
Comments