date:Jul 21, 2014
Remy Cointreau SA, the French cognac maker thats suffering from Chinas crackdown on lavish spending, reported a drop in first-quarter sales as shipments of the spirit fell more than analysts estimated.
Sales on an organic basis declined 5.7 per cent in the three months through June, more than the median 5.2 per cent decline estimated by eight analysts surveyed by Bloomberg News. Revenue at the Remy Martin cognac unit fell 15 per cent, the Paris-based company said today in a statement. The media