Strong Off-Premise Bourbon Sales Salvage Brown-Forman’s Year
Jack Daniel's Whiskey owner Brown-Forman (NYSE: BF.A)(NYSE: BF.B) said strong off-premise sales and bourbon's continued popularity salvaged what could have turned into a disastrous year.
The distiller said fiscal 2019 fourth-quarter sales fell 5% from the year-ago period to $709 million, a 10% drop on an underlying basis, which accounts for acquisitions and divestitures, currency fluctuations, and distributor inventory adjustments.
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Source Fool.com
