1030 GMT - Diageo needs to prove it can outrun a structural decline in the alcohol industry, analysts at Jefferies write in a note. The U.K.-based drinks giant behind Smirnoff vodka and Gordon's gin is gearing up for a strategy revamp under new boss Dave Lewis, which could drive strong performance and cut costs, Jefferies says. "The market is waiting for clear evidence of a decisive reset and tangible improvement before re-engaging," the bank says. "The strategy update on August 6 should put a floor under earnings and be a clearing event." (joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

June 19, 2026 06:31 ET (10:31 GMT)

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