Remy Cointreau: -45% over the past year…

Spirits. Remy Cointreau shares have fallen 45% over the past year. With sales at -22.7% over the first nine months of the 2023/2024 financial year, the spirits group is impacted by several factors. In North America, the cognac market has turned around with consumers impacted by the credit crunch. Distributors are taking the opportunity to reduce their stocks while the promotional intensity is stepped up a notch. As for China, the recovery in economic activity is weak. In addition, the Beijing authorities could impose additional customs duties on cognac in response to measures taken by Europe against vehicles made in China…