Diageo sales dip in U.S. but Bulleit bourbon soars

A bottle of Bulleit bourbon.
A bottle of Bulleit bourbon.

Diageo, the parent of Bulleit bourbon, reported Thursday that net sales for the sixth months that ended Dec. 31 were up almost 2 percent worldwide on an organic basis; including factors such as foreign exchange rates, reported sales were down 5 percent, to $8.06 billion.

Overall net sales in North America, more than a third of all Diageo sales, were down 2 percent, but Bulleit sales were up 27 percent in the United States. Don Julio tequila sales were up 28 percent, and Diageo said Crown Royal Apple also performed strongly.

Diageo CEO Ivan Menezes said in a statement that the British company, “can deliver improved, sustained performance. For the full year, we expect volume growth to drive stronger top-line performance, margin to slightly improve and strong cash conversion to continue. This will set us up to deliver better momentum in (fiscal year 2017), with productivity gains supporting margin expansion and investment in growth.”