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Cognac spikes lifts French drinks maker's Q1 sales growth
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Remy Cointreau shares popped as much as 4% Thursday after the French drinks maker reported better-than-expected full year sales and profit and said momentum in China promised further growth.
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The maker of Fendi fashions and Hennessy cognac posted posted a 15% increase in first-quarter sales easily beating analyst expectations.
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A 22% increase in cognac sales swamped analyst expectations, pushing the French company's shares to a 12-month high.
The French spirit maker buys boutique whiskey brand Westland Distillery.
The U.S's thirst for Jameson whiskey and rebounding Chinese demand for cognac deliver 4% sales growth for the world's No.2 distiller.
European stock markets are modestly higher in the Thursday session ahead of a key policy meeting at the European Central Bank in Frankfurt.
Liquor makers' stocks rise after the cognac maker beat expectations with strong U.S. sales and a rebound in China.
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Investors and analysts are bullish on the maker of Johnny Walker and Guinness.
Tough competition in the U.S. vodka market has crimped North American sales in recent months.
The French drinks maker refuses to give a sales forecast for the full year, sending a potential warning sign for industry peers such as Diageo and Pernod Ricard.
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The world's No. 2 wine and spirits maker blames slumping Scotch sales in China on a soft New Year and declining on-trade sales.
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The rise of Irish whiskey in the U.S. has been meteoric in the past decade. Now there's a new Irish whiskey aged in unique casks.
The rise of Irish whiskey in the U.S. has been meteoric in the past decade.
Paris-based Pernod experienced growth among its top 14 brands, including a strong performance by Jameson.
Americans spent more on spirits last year and they weren’t afraid to go top shelf either, said Gilles Bogaert, chief financial officer at Pernod Ricard.
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