First-quarter sales decline 6.9% to MXN9.63bn (US$491.3m)'US & Canada' flat at MXN6.23bnJose Cuervo stable up 9.9% - albeit in reported terms - to MXN3.37bnProximo Spirits has picked up where it left off in 2024 with a fall in sales from the first quarter of this year.The company, which oversees the Jose Cuervo tequila giant, booked a near-7% top-line slide from the three months to the end of March. The closing quarter of last year was also down, by 10.5%, resulting in a full-year decline from 2024 of 2.9%.
In commentary that considered the results on a reported basis, which
Proximo Spirits falls by mid-single-digits in first quarter – results data
‘We are encouraged by our ability to manage the business effectively despite ongoing industry pressures and cautious consumer sentiment.’

Olly has been reporting on the beverage industry as a B2B journalist since 2003. He spent 18 years at Just Drinks, 16 of which as managing editor. Since joining Global Drinks Intel in 2022, he's interviewed the CEOs for brand owners including AB InBev, Campari Group, Carlsberg, Heineken and Suntory Global Spirits and has a bulging contacts book from across beverage alcohol worldwide.



