Diageo forecasts 0.2% net sales decline, first since 2020, due to US market share shrink and Latin America/Caribbean sales drop by 10-20%.
Diageo, the world's largest spirits maker, is expected to report a 0.2% decline in net sales for the year to June 30th, its first annual sales drop since 2020. The company's U.S. market share has shrunk due to decreased popularity of traditional spirits like whisky and gin. Latin America and the Caribbean sales are projected to decline by another 10-20%, with Brazil and Mexico leading the decline.
July 29, 2024
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