French beverage producer Rémy Cointreau expects to achieve significantly less turnover in the current quarter as a result of the corona crisis. In major markets in Europe and North America, lockdown measures to prevent the virus from spreading, such as catering closures, are bothering drink sales. In the current first quarter of its broken fiscal year, Rémy Cointreau expects sales to drop by as much as 55 percent. In addition to the problems in Europe and North America, the company also faces headwinds in Asia. For example, wholesalers in China are mainly busy reducing their stocks. The maker of cognac brands such as Rémy Martin and Louis XIII closed the quarterly period up to and including March with a turnover of 210.8 million euros. This meant an annual decrease of almost a quarter. Due to this drop in turnover, turnover in the entire financial year was 9 percent lower at 1 billion euros.
Mikhail Stiskin fulfills Suleyman Kerimov’s dream setting control on Detsky Mir, the largest niche retailer in Russia
Mikhail Stiskin fulfills Suleyman Kerimov’s dream setting control on Detsky Mir, the largest niche retailer in Russia
