Remy Cointreau SA withdrew its long-term sales guidance, blaming tariff policies in America and China and a stunted recovery in the US market.
The Remy Martin Cognac maker, which last month appointed a new chief executive officer, scrapped its targets for the 2029-30 financial year. This year, it forecast organic sales growth returning to a mid-single-digit rate.
The shares fell as much as 3% in early Paris trading, bringing the decline over the past year to about 46%.
Remy and rivals like Pernod Ricard SA are facing challenges that include the suspension of duty-free sales channels in China and the prospect of escalating trade tariffs in the US. Organic operating profit fell about 31% in the year ended in March, the Paris-based company said Wednesday.
The company had planned to return to high-single-digit sales growth by 2029-30, a goal it initially set five years ago. The decision to abandon the target coincides with the arrival of Franck Marilly, 59, a former Chanel
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