Remy Cointreau (RMC.BE)
- Reuters
Remy Cointreau too concentrated in cognac, investors say
Remy Cointreau investors say the company needs to diversify further as its reliance on cognac sales in the United States and China leaves it among the worst-hit by a global spirits downturn. The maker of Remy Martin cognac has already signalled it wants to grow sales in other markets and invest in its portfolio of other drinks, including Cointreau liqueur and The Botanist gin. The company makes some 70% of sales from cognac, with the vast majority of those in the U.S. and Chinese markets.
- Business Wire
Rémy Cointreau: Sales down -15.6% in Organic Terms
PARIS, July 24, 2024--Regulatory News: Rémy Cointreau (Paris:RCO) reported sales of €217.0 million in the first quarter of 2024-25, down -15.6% on an organic basis.3 On a reported basis, the decline was -15.7% including a negative currency effect of -0.1%, due primarily to trends in the Chinese renminbi.
- Reuters
Remy Cointreau's shares hit lowest since 2016 after quarterly sales miss
LONDON (Reuters) -Remy Cointreau's shares hit their lowest in eight years on Wednesday as a first-quarter sales miss on spreading problems in the U.S. and Asia added to gloomy sentiment around the cognac maker. Shares in the producer of Remy Martin cognac and Cointreau liqueurs slipped more than 3% on the news that first-quarter organic sales had fallen 15.6%, compared to a 13.6% drop expected by analysts. The stock hit its lowest since 2016, dragged down by concerns around downturns from the U.S. to Asia, and the threat of tariffs on EU brandy from Beijing amid an EU-China trade dispute.
