Weak Chinese and U.S. markets weigh on Pernod Ricard Q1 sales
PARIS, Oct 16 (Reuters) - French spirits maker Pernod Ricard PERP.PA said it still expected sales to improve in its 2026 fiscal year after reporting a well-flagged 7.6% fall in first quarter sales, due to weak consumer demand and destocking in China and the United States.
Pernod, the world's second-biggest Western spirits group behind Diageo DGE.L, said it continued to expect the improving sales trends to be skewed towards the second half of the year.
Pernod - which owns Martell cognac, Mumm champagne and Absolut vodka - reported sales of 2.384 billion euros ($2.78 billion) from July to September, marking a like-for-like decline of 7.6% broadly in line with a company-compiled analyst consensus for a decline of 7.1%.
Pernod Ricard's fiscal year started on July 1.
($1 = 0.8579 euros)
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