Foster's wine sales to Britain and its market share in the US are both declining as the company continues to dispose of surplus winery assets back home. Industry figures from ACNielsen, quoted by The Australian, showed Foster's British wine sales were down 11.9% over the four weeks to July 1 compared with the same period a year earlier, as British wine sales overall continued to slow.
The Rosemount, Lindemans and Penfold's brands all declined, but Credit Suisse analyst Larry Gandler says that he expects this to moderate or even reverse later this year as new displays and products are introduced, following the recent addition of wines from Foster's US Beringer winery to the British market.
For the complete story, go to http://www.theaustralian.news.com.au
|