The French spirits manufacturer Pernod Ricard's sales fell more than expected during the last quarter. Among other things, due to cognac troubles in China and a late Easter in Europe.
Pernod Ricard, which, among other things, manufactures Absolut Vodka, saw sales decline by three percent, which was worse than expected. The decline is attributed partly to the fact that demand in China for the company's Martell Cognac was affected by the country's economic slowdown and Beijing's introduction of trade tariffs on European cognac.
In the USA, sales were boosted during the quarter by wholesalers who stocked up on the manufacturer's various drinks ahead of President Donald Trump's expected introduction of import tariffs.
