Brown-Forman CEO Lawson Whiting criticized Canada’s removal of US alcohol from shelves as a disproportionate response to US tariffs on Canadian goods, deeming it more damaging than the tariffs themselves. This action, taken by provinces including Ontario’s LCBO, eliminates US alcohol sales completely. While impacting Brown-Forman, the loss represents only 1% of its overall sales. The Canadian government’s retaliatory tariffs, alongside provincial actions, target US beer, spirits, and wine.
Read More
Brown-Forman CEO Lawson Whiting described Canadian provinces’ removal of US liquor from shelves as a more damaging retaliatory measure than tariffs imposed by the Trump administration, despite Canada accounting for only 1% of the company’s sales. While Canada also levied a 25% tariff on US alcohol imports, Brown-Forman’s annual forecast accounts for these impacts, and the company’s stock rose 8% following the announcement. The company’s overall performance has been affected by decreased demand in the US, Canada, and Europe, although emerging markets show stronger sales. Despite these challenges and cost-cutting measures, Brown-Forman remains confident in its future prospects.
Read More
John Q. Hosedrinker