UPDATE 1-Jack Daniel's maker Brown-Forman tops sales estimates on premium whiskey demand
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June 4 (Reuters) - Whiskey maker Brown-Forman BFb.N beat Wall Street estimates for fourth-quarter net sales on Thursday, helped by steady demand for its premium brands, including Jack Daniel's, especially among affluent consumers.
This was the first quarterly report by Brown-Forman since the company rejected a roughly $15 billion approach from Sazerac and the collapse of separate merger discussions with France's Pernod Ricard PERP.PA.
Strong demand for legacy brands like Woodford Reserve and Old Forester among high-income consumers, especially in international market, has helped the company offset weaker U.S. discretionary spending.
The company posted sales of $912 million, beating the average of analysts' estimates of $879.6 million, according to data compiled by LSEG.
Brown-Forman expects organic net sales for fiscal year 2027 to be flat, in line with fiscal 2026.
"We anticipate the operating environment for fiscal 2027 to remain challenging, as macroeconomic pressures and geopolitical instability continue to negatively impact consumer behavior and beverage alcohol consumption, particularly within developed markets", the company said.
