Treasury Wine's Inventory Repurchase Isn't a Positive -- Market Talk

Dow Jones

Feb 10

0341 GMT - Treasury Wine Estates' recovery of inventory from its former California supplier doesn't seem to fill Jefferies analysts with confidence. Analysts Michael Simotas and Naveed Fazal Bawa tell clients in a note that repurchasing previously sold inventory is never positive, especially at the original sale price, as the Australian producer is doing. They point out that the subsequent sale of this repurchased inventory to a new California distributor will be at zero margin and effectively replace the profitable sale of new inventory. This will dilute Treasury Wine's second-half margins, they add. Jefferies has a hold rating and A$5.20 target price on the stock, which is up 4.4% at A$5.395. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 09, 2026 22:41 ET (03:41 GMT)

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Analysts Michael Simotas and Naveed Fazal Bawa tell clients in a note that repurchasing previously sold inventory is never positive, especially at the original sale price, as the Australian producer is doing. They point out that the subsequent sale of this repurchased inventory to a new California distributor will be at zero margin and effectively replace the profitable sale of new inventory. This will dilute Treasury Wine's second-half margins, they add. Jefferies has a hold rating and A$5.20 target price on the stock, which is up 4.4% at A$5.395. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 09, 2026 22:41 ET (03:41 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Treasury Wine's Inventory Repurchase Isn't a Positive -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTreasury Wine's Inventory Repurchase Isn't a Positive -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-02-10 11:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0341 GMT - <a href=\"https://laohu8.com/S/TSRYF\">Treasury Wine Estates</a>' recovery of inventory from its former California supplier doesn't seem to fill Jefferies analysts with confidence. Analysts Michael Simotas and Naveed Fazal Bawa tell clients in a note that repurchasing previously sold inventory is never positive, especially at the original sale price, as the Australian producer is doing. They point out that the subsequent sale of this repurchased inventory to a new California distributor will be at zero margin and effectively replace the profitable sale of new inventory. This will dilute Treasury Wine's second-half margins, they add. Jefferies has a hold rating and A$5.20 target price on the stock, which is up 4.4% at A$5.395. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 09, 2026 22:41 ET (03:41 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TWE.AU","symbol_name":"TREASURY WINE ESTATES LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2610549694","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2610549694","pubTimestamp":1770694860,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0341 GMT - Treasury Wine Estates' recovery of inventory from its former California supplier doesn't seem to fill Jefferies analysts with confidence. Analysts Michael Simotas and Naveed Fazal Bawa tell clients in a note that repurchasing previously sold inventory is never positive, especially at the original sale price, as the Australian producer is doing. They point out that the subsequent sale of this repurchased inventory to a new California distributor will be at zero margin and effectively replace the profitable sale of new inventory. This will dilute Treasury Wine's second-half margins, they add. Jefferies has a hold rating and A$5.20 target price on the stock, which is up 4.4% at A$5.395. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TWE.AU":"TREASURY WINE ESTATES LTD","BK7097":"酿酒商与葡萄酒商","BK7505":"食品股"},"translate_title":"Treasury Wine的库存回购并不是一件积极的事情——市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TWE.AU":0.9},"content_text":"0341 GMT - Treasury Wine Estates' recovery of inventory from its former California supplier doesn't seem to fill Jefferies analysts with confidence. Analysts Michael Simotas and Naveed Fazal Bawa tell clients in a note that repurchasing previously sold inventory is never positive, especially at the original sale price, as the Australian producer is doing. They point out that the subsequent sale of this repurchased inventory to a new California distributor will be at zero margin and effectively replace the profitable sale of new inventory. This will dilute Treasury Wine's second-half margins, they add. Jefferies has a hold rating and A$5.20 target price on the stock, which is up 4.4% at A$5.395. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 09, 2026 22:41 ET (03:41 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}