Rémy Cointreau Q1 sales plunge on strong comparables – results data

First quarter sales slump 35% to EUR257.5m [US$284.5m] Cognac sales hit by “normalisation” and destocking in US Company predicts strong recovery in second half of year First-quarter revenues at Rémy Cointreau fell by more than one-third as robust sales in Asia failed to offset a major contraction in the Americas, caused by strong comparisons and destocking. The French company, owner of brands including Rémy Martin Cognac, Cointreau orange liqueur and Mount Gay rum, said the 35% reduction in sales was “in line with expectations”, having warned of difficult times ahead