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Diageo

All articles tagged with #diageo

business19 days ago•4 min saved

Diageo 2026 Preliminary Results: Organic sales dip while margins improve on cost savings

Diageo’s 2026 preliminary results for the year ended 30 June show net sales of $19.643 billion, down 3% on a reported basis and 2% organically. Organic net sales fell 2% with volume down 0.4% and a 1.6% adverse price/mix, though growth occurred in Europe, Latin America and Africa while North America and Asia Pacific weakened. Organic operating profit rose 2% with margins up 116 basis points thanks to cost savings, but the reported figure declined 27.2% due to restructuring costs and impairment charges; EPS before exceptional items was 165.3 cents. Free cash flow rose to $3.211 billion, and net debt stood at $20.5 billion. The company is progressing with disposals (East Africa Breweries) and a planned sale of the RCB cricket team, maintaining a 50 cents per share dividend. A two-year restructuring program is underway, with $0.9 billion of charges in fiscal 2026 and expected $850 million in savings from fiscal 2027, plus $1.5 billion of impairments largely from Türkiye. CEO Dave Lewis says progress in several regions supports the turnaround as the Capital Markets Day is underway.

via Diageo|

#business #diageo #free-cash-flow

business20 days ago•2 min saved

Diageo pivots with $1B savings plan to reboot growth

Diageo unveiled a $1 billion, three-year savings plan to turn around a sluggish business, recognizing $1.2 billion in restructuring costs and promising a more agile, cost-efficient operation. For the year to June 30, organic net sales fell 2% to about $19.6 billion, while adjusted operating profit rose 2% to $5.7 billion due to savings (tariffs partly offset the gains). North America sales declined 8.4%, but World Cup-driven cocktails and Casamigos/other brands supported ready-to-drink growth, leading analysts to expect the plan to lift profits and support the stock lifted about 4%.

via CNBC|

#business #cost-savings #diageo

business1 month ago•2 min saved

Portland's Aviation Gin Distillery Closes as Diageo Shifts Production

Diageo has closed the Portland Aviation American Gin Distillery and its visitor center as it moves production to other facilities to improve efficiency; Ryan Reynolds remains an owner, and the Aviation Gin brand will stay in Diageo’s portfolio despite the closure.

via USA Today|

#aviation-gin #business #diageo

politics7 months ago•3 min saved

Ontario to Remove Crown Royal from LCBO in Policy Shift

Ontario Premier Doug Ford has announced plans to banish Crown Royal whisky from the province, citing a dispute with Diageo over the company's plans to move production to the US and the loss of local jobs. Ford has urged residents to stock up before the ban takes effect and has threatened to target other Diageo brands, emphasizing his stance on economic nationalism and protecting Ontario's interests.

via The Guardian|

#alcohol-ban #crown-royal #diageo

business9 months ago•2 min saved

Diageo appoints former Tesco CEO Dave Lewis to lead growth

Diageo has appointed former Tesco CEO Sir Dave Lewis as its new chief executive to address declining sales and market challenges, aiming to stabilize and grow the company's global brands amid changing consumer behaviors and economic pressures.

via BBC|

#business #consumer-habits #dave-lewis

business1 year ago•1 min saved

Diageo CEO Debra Crew Resigns Amid Market Turmoil

The CEO of Diageo, Debra Crew, has unexpectedly resigned without a successor in place amid ongoing sales challenges despite strong Guinness demand, prompting the CFO to step in temporarily as the company searches for a new leader.

via BBC|

#business #debra-crew #diageo

business-entertainment2 years ago•2 min saved

"Diddy and Diageo: The End of a Celebrity Liquor Empire"

Sean "Diddy" Combs faced setbacks in his business ventures, including the failure of a major cannabis deal and the underperformance of his latest album. Amidst this, he filed a lawsuit against Diageo, alleging racism and neglect in their partnership for the DeLeón tequila brand. Combs sought billions in damages, positioning the lawsuit as a crusade for fair treatment of Black people by big corporations.

via Bloomberg|

#business-empire #business-entertainment #diageo

business-entertainment2 years ago•2 min saved

"Diddy and Diageo: The End of a Celebrity Business Partnership"

Sean "Diddy" Combs faced setbacks in his business ventures, including a failed cannabis deal and underperforming album, while also suing Diageo for alleged racism in neglecting their joint tequila venture. Despite his struggles, Combs remains determined to hold corporations accountable for fair treatment of Black entrepreneurs.

via Bloomberg|

#business-empire #business-entertainment #diageo

business2 years ago•1 min saved

"Diddy and Diageo Reach Settlement Over Racism Accusations"

Sean "Diddy" Combs and Diageo have settled their dispute, with Combs withdrawing his accusations of racial discrimination and voluntarily dismissing his lawsuits against the spirits giant. The lawsuit, filed last year, alleged that Diageo neglected the vodka and tequila brands he promoted or co-owned and marketed them as "urban" brands. The settlement marks the end of a partnership that began in 2007 to promote Cîroc vodka and jointly purchase DeLeón tequila in 2013.

via CNBC|

#business #diageo #diddy

business-entertainment2 years ago•2 min saved

"Diddy and Diageo Settle Ongoing Racism Lawsuits"

Sean Combs has settled with Diageo, ending his joint ownership of DeLeón tequila and ties to Cîroc vodka, following ongoing sexual assault lawsuits and accusations of racism. The settlement comes after Combs sued Diageo for labeling the brands as "Black brands" and facing sexual assault allegations from multiple accusers. Both parties have agreed to resolve all disputes, with Combs withdrawing his allegations and voluntarily dismissing his lawsuits against Diageo, and will no longer have any ongoing business relationship with the spirits giant.

via Rolling Stone|

#business-entertainment #diageo #liquor-brands

business-entertainment2 years ago•2 min saved

"Diddy Withdraws Racism Lawsuit Against Diageo"

Sean 'Diddy' Combs has withdrawn all allegations in his lawsuit against Diageo, ending their business relationship and resolving all disputes. The rapper had previously accused the spirits giant of neglecting his brands, DeLeón Tequila and Ciroc Vodka, due to race, but has now dismissed the lawsuit, suggesting a settlement has been reached. This comes as Diddy faces other legal challenges, including settling with his ex, Cassie, over allegations of sexual and physical abuse, and facing lawsuits from three other women for similar claims.

via Daily Mail|

#alcohol-industry #business-entertainment #diageo

business2 years ago•1 min saved

"Diddy Settles Racism Lawsuit with Diageo Amid Sexual Assault Allegations"

Sean "Diddy" Combs has withdrawn his lawsuit against Diageo as part of a settlement, with the spirits giant now the sole owner of Ciroc vodka and DeLeon tequila. The lawsuit, filed last May, accused Diageo of neglect and racism, but the details of the settlement remain undisclosed. Diageo denied the allegations, and Combs' reputation suffered after being sued by R&B singer Cassie for alleged abuse, a lawsuit that was settled a few days after it was filed.

via NBC News|

#alcohol-industry #business #diageo

business2 years ago•1 min saved

"Diddy and Diageo Settle Lawsuits Over Racism Accusations"

Sean "Diddy" Combs has reached a settlement with Diageo, withdrawing his lawsuit against the spirits giant. As part of the agreement, Diageo is now the sole owner of Ciroc vodka and DeLeon tequila, brands previously promoted by Combs. The lawsuit, filed last May, alleged that Diageo failed to make promised investments and treated the products as inferior "urban" items. Combs, who also accused Diageo of racism, saw his reputation suffer as a result of the legal dispute.

via The Associated Press|

#business #diageo #lawsuit

business2 years ago•3 min saved

"Diddy and Diageo Settle Racism Lawsuit"

Sean "Diddy" Combs and Diageo have settled their legal dispute, with Combs withdrawing his allegations and voluntarily dismissing his lawsuits against Diageo. The dispute stemmed from Combs' claims that Diageo had not supported marketing agreements involving Ciroc vodka and DeLeón tequila. The resolution severs their business ties, and Diageo now solely owns DeLeón tequila. Combs is also facing lawsuits related to sexual assault charges, and his temporary resignation as chairman of Revolt and the cancellation of his Hulu reality show.

via Variety|

#business #ciroc-vodka #deleon-tequila

business2 years ago•4 min saved

India's Homegrown Single Malts Disrupt Pernod and Diageo

India's growing love for homegrown single malts is shaking up the $33 billion spirits market, with local brands like Indri, Amrut, and Rampur gaining popularity and competing with established global brands like Glenlivet and Talisker. Factors such as global awards, increased affluence, and the COVID-19 pandemic have contributed to the boom in India's whisky landscape. In response, Pernod Ricard and Diageo have launched their own Indian single malts, recognizing the potential of the Indian whisky market. Indian single malts have seen a significant surge in growth, outpacing Scotch, and are predicted to continue growing in consumption.

via Reuters India|

#business #diageo #india