Guinness Beer Shines Amid Diageo's Sales Decline, with Double-Digit Growth in Ireland and Britain
Diageo, a London-based alcoholic beverage maker, saw its shares plunge over 10% after reporting its first sales decline since the start of the pandemic. Guinness beer was a bright spot for Diageo, with volumes growing in double digits in Ireland and Britain. Non-alcoholic Guinness 0.0 sales and volumes more than doubled over the fiscal year, reflecting the growing popularity of no/low alcohol beers. Diageo's CEO said it had been a "challenging year" for the company and industry due to macroeconomic and geopolitical volatility. The North American region also struggled.
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00:00It's Benzinga, and here's what's on the block.
00:02Diageo, a London-based alcoholic beverage maker, saw its shares plunge over 10% after
00:07reporting its first sales decline since the start of the pandemic.
00:11Guinness beer was a bright spot for Diageo, with volumes growing in double digits in Ireland
00:16and Britain.
00:17Non-alcoholic Guinness sales and volumes more than doubled over the fiscal year, reflecting
00:21the growing popularity of no- or low-alcohol beers.
00:25Diageo's CEO said it had been a challenging year for the company and industry due to macro
00:29economic and geopolitical volatility.
00:32The North American region also struggled.
00:34For all things money, visit Benzinga.com.