BUZZ-US alcohol companies fall after Diageo lowers sales forecast

Reuters02-25
BUZZ-US alcohol companies fall after Diageo lowers sales forecast

** Shares of U.S.-based alcohol companies down after Diageo DGE.L, the maker of Johnnie Walker whisky and Guinness beer, cut its annual sales forecast, with new boss Dave Lewis saying pressure on consumer wallets is "by far and away" the biggest challenge

** Shares of Jack Daniel's maker Brown-Forman BFb.N down 8%, beermaker Molson Coors TAP.N down 3.4%, Samuel Adams maker Boston Beer SAM.N down 3.8% and Corona beermaker Constellation Brands STZ.N down 1.8%

** "Diageo's lackluster results and tempered outlook underscore the mounting challenges facing the alcohol industry. With fewer people drinking, tightening household budgets, and growing competition from lower-priced alternatives, the category is navigating an increasingly tough landscape" - EMarketer analyst Zak Stambor

** In 2025, STZ, SAM, BFb and TAP fell 38%, 35% 32% and 19%, respectively

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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