A bottle of Remy Martin XO cognac is displayed at the Remy Cointreau SA headquarters in Paris, France, January 21, 2019. REUTERS
PARIS, Oct 30 (Reuters) – French spirits maker Remy Cointreau on Thursday cut its full year 2025/26 sales and profit goals, citing deteriorating market conditions in its key Chinese market and a weaker-than-expected rebound in sales in the United States.
This came after the maker of Remy Martin cognac and Cointreau liqueur reported a worse-than-expected 11% decline in second-quarter sales, reflecting tougher market conditions in China and a later timing of China’s Mid-Autumn Festival.
Sales reached 268.8 million euros ($313.5 million), marking a like-for-like decline of 11% in the July-September period, which compared with average analysts’ expectations for a 9% decline in a company-compiled consensus.
Remy said it now expected organic sales growth for the full year 2025/2026 to range from between stable and low single digits – compared to its previous forecast for mid-single-digit percentage organic growth.
The group also now expected an organic decline in full year current operating profit of between low double digits and mid teens, versus a mid-single-digit decline previously forecast.
Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta
