PARIS/LONDON — Remy Cointreau slashed its full-year guidance on Friday, delaying its recovery from persistent double-digit sales declines, pushing out further a turnaround in the key US market and flagging deepening problems in Europe and Asia.
The maker of Remy Martin cognac and Cointreau liqueur enjoyed booming growth after the Covid-19 pandemic as consumers splashed out on expensive spirits, only to suffer a dramatic reversal in fortunes as economies worsened in recent years.
