Brown-Forman falls on concerns over EU's retaliatory tariffs

Brown-Forman shares BFb.N lead a slide in the Consumer Staples .SPLRCS index after the Jack Daniels maker said retaliatory tariffs from the European Union, which went into effect on Wednesday, were a "tough spot"

"This time there's been a lot of signals going on for a long time, particularly coming from the EU. Not totally unexpected and we have done some things to try to get us prepared, but it's a tough spot," Lawson says

European Union tariffs affecting U.S. spirits like bourbon whiskey will be "devastating" for the liquor industry, trade associations on both sides of the Atlantic said

Co also says increase in number of GLP-1 users was "certainly meaningful, and we would be naive if we said that's not a long-term headwind"

Adds that younger consumers are under budget strain, buying smaller pack sizes

Brown-Forman shares last down 6.7% at $33.64, Consumer Staples .SPLRCS index down 1.67%

BFb fell 33% in 2024