date:Jul 21, 2014
n estimate was for an 11 per cent drop.
Remys first-quarter sales improved compared with last years 11 per cent decline, which was led by a 21 per cent plunge in cognac. Remy, which gets the majority of its revenue from that spirit, reiterated that it expects an increase in sales and operating profit on an organic basis this fiscal year, after a 41 per cent decline in earnings last year on the same basis.
High-End
The Chinese clampdown on extravagant spending on banquets and gifts by governme