China

Carlsberg Lifts 2024 Growth Outlook Despite Q2 Lag Forecast

Carlsberg lifted its forecast for full-year operating profit growth on Tuesday despite posting weaker-than-expected sales for Q2.

L’Oréal has reported a 5.3% rise in second-quarter sales, below expectations and rattling investors already worried about the Chinese market.

Heineken has reported a 12.5% rise in half-year operating profit, missing out in an expected boost from sporting events.

Nestlé lowered its sales outlook on Thursday, slowing the pace of price hikes sooner than hoped due to increasingly cost-conscious consumers.

Investors for Remy Cointreau have said that it needs to diversify as its reliance on cognac leaves it badly hit by a global spirits downturn.

Pernod Ricard has agreed to sell the majority of its wine portfolio to Australia’s Accolade Wines to focus on its spirit business.

French spirits sales and exports have dropped sharply this year as consumers continued to cut back on spending in the face of cost of living.

Carlsberg sold more of its premium beer brands and saw price increases across all its main markets during the first quarter.

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