Cognac Hangover in the U.S. Set to Linger -- Market Talk

Dow Jones11-25

1402 GMT - Sales of spirits in the U.S. are expected to remain soft, with the cognac category being particularly hit, UBS analysts write in a research note. Cognac is expected to underperform the broader market, with continued share losses to tequila. The potential implementation of U.S. tariffs poses another downside risk, the analysts say. "While in a typical cycle for cognac, sales improve after four years, some of the challenges facing the category seem to be more structural in nature," they add. Regarding French luxury giant LVMH, the issues extend beyond cognac, with the broader spirits and champagne portfolio also experiencing difficulties as indicated by recent management changes in the division, UBS says. Shares in LVMH are up 1.6% at 592.10 euros.(andrea.figueras@wsj.com)

(END) Dow Jones Newswires

November 25, 2024 09:06 ET (14:06 GMT)

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Regarding French luxury giant LVMH, the issues extend beyond cognac, with the broader spirits and champagne portfolio also experiencing difficulties as indicated by recent management changes in the division, UBS says. 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Regarding French luxury giant LVMH, the issues extend beyond cognac, with the broader spirits and champagne portfolio also experiencing difficulties as indicated by recent management changes in the division, UBS says. 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