Jack Daniel’s whiskey maker Brown-Forman sees sales bounce back as consumers return to bars, restaurants and airport duty-free
Jack Daniel’s whiskey maker Brown-Forman’s sales jumped as consumers returned to bars, restaurants and airport duty-free stores after Covid restrictions eased.
The US distiller, which also makes Woodford Reserve bourbon and Fords gin, posted sales of £860million in the three months to July 31, up from £780million in the same period last year. That beat analysts’ expectations.
Brown-Forman’s travel retail unit, which includes duty-free sales, reported year-on- year growth of 77 per cent as travel grew.
Jack Daniel’s whiskey maker Brown-Forman, which also makes Woodford Reserve bourbon and Fords gin, posted sales of £860m in the three months to July 31
‘While there is continued uncertainty in the market, I remain optimistic we can continue this momentum and deliver on both short- and long-term growth ambitions,’ said chief executive Lawson Whiting.
The company posted quarterly net income of $214million (£184million), up from $165million (£142million) a year earlier.
Last month Brown-Forman said it would invest more than £30million in its GlenDronach distillery in Aberdeenshire, more than doubling its capacity, enabling it to meet growing global demand.