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Shop Talk

Retailers, consumers and prices

February 29th, 2008

Check Out Line: Let the good times roll!

Posted by: Nicole Maestri
Tags: Shop Talk

Check out consumers around the world shrugging off economic worries (or looking to bury them) and treating themselves to a stiff drink – much to the benefit of wine and spirits company Brown Forman.

On Friday, the drinks company reported a roughly 10 percent rise in quarterly profit and said its sales increased 16 percent.tequila.jpg

Around the world, consumers were reaching for its Jack Daniel’s Tennessee Whiskey and Finlandia Vodka, while in the U.S., it said it saw an ”exceptional” increase in demand for Gentleman Jack. 

In Australia, demand for Jack Daniel’s & Cola ready-to-drink helped spur profits.

But even for a company that specializes in good times, life is not always one big party.

Brown Forman also cut the top end of its full-year earnings per share forecast range, citing “a challenging economic environment and expectations of higher energy and grain costs.”

Also in the basket:

Gap profit rises, CEO sees new focus on margins

Kohl’s profit down, stock slips on outlook

Escada Q1 sales, earnings slump; shares take hit

(Photo: Reuters)

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