Treasury Wine Estates said it is now “unlikely” to see a near-term improvement in sales in the United States and China - its two largest markets - and will cut hundreds of thousands of cases of shipments as inventories build up and pricing pressure intensifies. Read More
Treasury Wine Esates
The Penfolds owner freezes its shares ahead of a crucial market update, following a A$687 million U.S. impairment and weakening demand in China.
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Treasury Wine Estates says its entire A$687 million U.S. goodwill is likely worthless — a stark sign of how sharply America’s wine market has cooled. Read More
Treasury Wine Estates named Sam Fischer as its next chief executive officer, replacing Tim Ford after a five-year tenure that saw the company navigate pandemic disruptions, trade tariffs, and a strategic overhaul of its wine portfolio. Read More
Asia was the only region where Penfolds recorded revenue growth, with NSR surging 50.4% to AUD 386.1 million (USD 243.9 million), accounting for 69.3% of total Penfolds sales. Read More
Shares of major alcohol companies fell after U.S. Surgeon General Vivek Murthy linked alcohol consumption to cancer risks and called for warning labels on alcoholic beverages. Read More
Australian wine giant Penfolds is facing a pricing crisis in China, with its wines appearing at drastically different price points following the lifting of tariffs on Australian wine. Read More
The deal, valued at RMB 130 million (US$17.9 million), is TWE's latest strategic push to expand local wine production in China. Read More
Despite the prevalence of online shopping in China, traditional retail remains a key outlet for wine sales. According to Metro, 70% of its wine sales come from its physical stores in China. Read More
However, TWE’s performance will depend on the economic environment and geopolitical dynamics in key markets, including China. Read More