This Red's Bouquet Not Fragrant to Wine Industry
In the wake of last month's life-altering events, you would think Americans would find solace in a good glass of Chardonnay -- if not something harder. Au contraire.
All over the country, wine-related businesses have experienced a "significant" downturn in restaurant, hotel and other sales over the past several weeks, according to a survey by Wine Market Report, an industry newsletter. The majority of the 258 respondents said they don't expect sales volumes to return to preattack levels until at least the spring of 2002.
More than one-third of the businesses polled predict their sales will be down 20% to 30% in the fourth quarter, compared with the same period a year ago. Another 40% said sales would be flat, or either slightly up or down. Before Sept. 11, many of the same respondents hoped for a 20% sales gain. ...
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