1038 GMT - Remy Cointreau will continue to see sales declines, but it is attractively positioned for growth in the medium term, Jefferies analysts Edward Mundy and Andrei Andon-Ionita write in a note. The analysts expect the French distiller to report an organic sales decline of around 23% for the third quarter, with cognac down 25%. "The market needs reassurance that earnings have hit a floor," they say. The fourth quarter should be less bad than the third one, they add. Despite current headwinds, Remy Cointreau and the cognac category are expected to recover in the medium term. Shares are 1.8% higher at 59.10 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
January 08, 2025 05:38 ET (10:38 GMT)
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