Jack Daniels could use a drink.
Shares of Brown-Forman, maker of the aforementioned whiskey and many others–including Gentleman Jack and Woodford Reserve–and other spirits, are having a tough day. The stock was recently off some 11%, making it the S&P 500’s worst performer; Diageo’s U.S.-listed shares edged lower.
Part of the problem: whiskey sales. The company said Wednesday that net sales for whiskey fell 2% year over year in the first half of its current fiscal year. Jack Daniels was off 1%; Woodford and Old Forester were off 3% and 5%, respectively. Last year, whiskey sales rose.
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