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Brown-Forman Boosts FY23 Organic Net Sales Growth Outlook - Update
(RTTNews) - While reporting financial results for the second quarter on Wednesday, beverage alcohol maker Brown-Forman Corp. (BFA, BFB) said it now anticipates organic net sales growth in the high-single digit range for fiscal 2023 to reflect the strength of its portfolio of brands, stronger consumer demand, and the easing of supply chain constraints.
Previously, the company expected organic net sales growth in the mid-single digit range for the year.
The company said it anticipates stronger growth in fiscal 2023 despite global macroeconomic and geopolitical uncertainties.
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Brown-Forman Initiates FY24 Organic Net Sales Growth Outlook - Update
While reporting financial results for the fourth quarter on Wednesday, beverage alcohol maker Brown-Forman Corp. (BFA, BFB) said it now expected organic net sales growth in the 5% to 7% range to reflect the strength of its portfolio of brands, pricing strategy and strong consumer demand.
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Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Thursday.
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German Exports Recover In June
Germany's exports grew for the first time in three months in June despite falling shipments to the US, data from Destatis revealed Thursday. Exports advanced 0.8 percent on a monthly basis in June, reversing a fall of 1.4 percent in May. Shipments were expected to rise 0.5 percent. Reflecting the impact of higher tariff, exports to the United States dropped 2.1 percent on a monthly basis.
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European Economic News Preview: BoE Likely To Cut Rates
The Bank of England is widely expected to cut its interest rates for the fifth time in a year to support the economy even as inflation continued to stay stubbornly above the target. Markets anticipate a quarter-point cut, bringing the bank rate to 4.00 percent, which will be the lowest since early 2023.
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European Shares Poised For Mixed Open
European stocks are seen opening on a mixed note Thursday after U.S. President Donald Trump announced he will impose a 100 percent tariff on imports of semiconductors and chips, with exemptions for companies relocating production to the U.S.
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Sensex, Nifty Open Lower On Tariff Concerns
Indian shares opened a tad lower on Thursday after U.S. President Donald Trump signed an executive order imposing an additional 25 percent tariff on India as a "penalty" in response to its continued purchase of Russian oil.
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Australian Market Extends Early Losses In Mid-market
The Australian market is extending early losses in mid-market moves on Thursday, snapping a three session winning streak, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,850 level, with weakness in iron ore miners and energy stocks.
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Asian Markets Trade Mostly Higher
Asian stock markets are trading mostly higher on Thursday, despite the broadly positive cues from Wall Street overnight, after U.S. President Donald Trump said the U.S. was closing in on the trade deal with China. Traders also remain optimistic about the US Fed cutting interest rates as early as September based on the recent economic data from the U.S.
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