0804 GMT - Remy Cointreau reported a disappointing fourth-quarter performance, and its confirmation of long-term outlook was surprising as it remains unclear how the group will achieve it, Barclays analysts Laurence Whyatt and Ashutosh Jain say in a note. The French cognac maker's organic sales for the quarter fell 19%, compared with Barclays's expectations of 17.9% fall, and the 32.8% drop in cognac sales was also worse than expectations of a 29.6% decrease, they say. The company continues to expect 72% gross margin and 33% EBIT margin in 2030. "With the change of chief executive likely this summer, we remain skeptical that these can be achieved without a material improvement in conditions in both China and the U.S., and it is yet to be seen whether a new CEO holds onto these targets," they add. Shares are up 4.3%. (michael.susin@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 04:05 ET (08:05 GMT)
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